- Aptos joined 15.7% to reach $ 5.14 before being slightly $ 4.97.
- More than 16.5 million APTs were purchased on exchanges, but the detention of $ 5 is essential for the bulls.
Aptos (Apt) rebounded on its recent bottom, tearing up a descending channel to reach a local summit of $ 5.14 on June 25.
This marked a strong recovery compared to its highest level of $ 3.70. At the time of the press, APT was negotiated about $ 4.97, slightly traced, but still showing resilience.
The above increase marked an increase of 15.7% in the last 24 hours. During the same period, the volume of Altcoin jumped 263% to 633 million dollars, reflecting an increasing activity on the chain.
Smart money moves quickly …
The merchants of derivatives did not remain inactive. The perpetual volume of Aptos increased to $ 42.46 million, according to Defillama, while speculators were running to mount the rally.
Source: Defillama
This suggests that when the market has started to increase, many speculative traders have entered the market, reflecting an increase in risk appetite.
Of course, an increase in perpetual volume is rarely isolated.
Open interests (OI) have also increased from $ 31% to $ 205 million, according to Coinglass data.
When the perpetual volume and the increase in the OOI in tandem, this generally signals a new capital flowing on the market – the tracers are preparing for greater volatility to come.
Where there is a conviction, there is an accumulation
Source: Coringlass
Due to the increase in demand, investors buy more than the sale. This is reflected in a Netflow negative point at – $ 1.74 million.
How exactly? According to Coanyze, more than 16.5 million APT tokens were picked up during the overvoltage.
Source: Coanyze
Usually, an increase in demand results in higher purchase pressure, which precedes higher prices.
The Aptos bulls find the upper hand
According to Ambcrypto analysis, the Aptos experienced a strong ascending momentum while buyers made a return.
When we look at the indicators of Momentum, Apt is experiencing a strong upward movement, because it has recently closed its doors with higher peaks. As such, + DI of DMI increased to 29 while the negative index fell to 14.
Source: tradingView
In the middle of this recovery in a positive dynamic, the RSI of Altcoin also mounted at 56, bordering the bullish territory and showing no immediate sign of exhaustion.
If Momentum continues to build, Apt could recover the level of $ 5.25 and push around $ 5.50. That said, buyers must still defend $ 5.00 convincingly to maintain this intact trend.
That said, a recovery and fence defect above $ 5.00 can return the feeling quickly. If it is rejected, Apt could go back to $ 4.53.
