This Crypto Trader Predicts Aptos (APT) Price to Run ‘Quickly’

Aptos (APT) is currently hovering near the crucial $10 price level, a point of psychological and technical resistance.

Aptos (APT) is currently trading close to a crucial price point, which could determine the direction of its price action in the coming days or weeks.

According to Daan Crypto Trades, a renowned crypto analyst, the $10 price level is facing a lot of resistance, and a breakout above this zone could lead to a rapid surge in the price of the crypto.

On the other hand, if Aptos fails to maintain its current price, support is present around the $7-8 range, which has held the crypto up for the past 1-2 weeks of trading. Notably, Aptos has already rallied twice during this cycle, reaching highs of around $20.

Analyst: Aptos (APT) Price May Quickly Surge Past $10 Resistance

Daan highlights the significance of the $10 price level for Aptos (APT). According to his analysis, price action above $10 is thin in terms of volume.

If Aptos manages to clear this resistance zone, it could rise rapidly due to the lack of historical price activity above this level. This aligns with the volume profile on the Aptos/USDT chart, which shows minimal volume resistance above $10.

As the current price is resting just above this critical level, traders are keeping a close watch. Should Aptos breach this resistance, historical data suggests the possibility of a sharp move upwards, potentially revisiting highs of $19-$20.

Aptos (APT) Price Analysis: Key Support Zone Identified

Daan's tweet also points out strong support for Aptos at the $7-8 range. Both the 200-day simple moving average (SMA) and the exponential moving average (EMA) converge around these levels, reinforcing this area as a key support zone.

The price has previously found support here, and it’s likely to continue serving as a strong floor in the event of a pullback. Should Aptos fail to maintain its current level, a retracement to this support zone may offer an opportunity for bulls to enter the market again.

The presence of these technical supports makes the $7-8 range a critical area for traders.

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Token Unlocks, Upbit Activity to Influence Aptos Price Movement

Daan Crypto Trades also mentions the recent increase in token unlocks, which could create some selling pressure. Despite this, Aptos has shown resilience in previous upward moves.

Furthermore, buying interest from Upbit, a major South Korean exchange, could fuel further price appreciation, especially if demand surges as it has in the past.

The combination of thin volume resistance above $10 and strong support near $7-8 sets the stage for a potential price action soon. Moreover, external factors such as token unlocks and market activity on Upbit play a crucial role.

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