Disclaimer: The data offered doesn’t represent monetary, funding, buying and selling, or different kinds of recommendation and is solely the author’s opinion.
Aptos broke out previous the vary highs at $8.8 on excessive buying and selling quantity. This was an indication of conviction from the consumers, and the $10 goal didn’t look implausible. With Bitcoin wanting weak on the charts, some dangers remained for Aptos consumers.
The value motion that Aptos was creating appeared to go down the same route as Ethereum a number of days in the past. ETH too broke out previous the vary highs and a bearish order block, which was retested as a bullish breaker.
Is a push to $10 possible
![Aptos [APT] surges past the $8.8 resistance, bullish pressure intensifies](https://statics.ambcrypto.com/wp-content/uploads/2023/06/PP-3-APT-price.png)
Supply: APT/USDT on TradingView
The vary (orange) prolonged from $7.7 to $8.8. Simply over 12 hours earlier than the time of writing, in the course of the Asia session, these highs have been breached on robust quantity. The RSI additionally shot increased to underline the bullish momentum.
In doing so, the worth offered two short-term areas that may very well be retested upon a retracement. The primary was the H2 bullish breaker (cyan) at $8.65, and the opposite was an H4 bullish order block at $8.2.
The OBV broke previous an area resistance alongside the worth, which prompt the transfer upward was backed by real demand.
Nevertheless, one issue to be careful for was the FVG from 8 Could. The purple dashed line represents the higher a part of this imbalance.
It was potential that APT may expertise a quick reversal to $8.2 or $8.6 from this degree earlier than one other transfer increased. To the north the subsequent resistance degree was on the $10 space.
The swiftly ascending OI backed robust bullish sentiment
![Aptos [APT] surges past the $8.8 resistance, bullish pressure intensifies](https://statics.ambcrypto.com/wp-content/uploads/2023/06/PP-3-APT-coinalyze.png)
Supply: Coinalyze
Moreover, the near-term rally of APT was accompanied by an increase within the Open Curiosity. This indicated robust bullish sentiment available in the market.
Furthermore, the transfer upward was fueled by brief liquidations as nicely, as highlighted on the chart.
How a lot are 1, 10, and 100 APT price at this time?
Liquidated bears are pressured to purchase the property at market worth to shut their positions. And this provides to the short-term bullish momentum.
Nevertheless, as soon as these orders are devoured up, Aptos would possibly retrace towards the help zones highlighted beforehand.
