Aptos (APT) continues to reflect mixed market behavior, highlighting how volatile conditions remain across the broader crypto landscape. The token recorded a 2.04% daily loss, though its weekly performance shows resilience with a 9.01% rise. At the time of writing, the token is trading at $4.61.
The 24-hour trading volume surged by 17.59% to $274.74 million, indicating higher market activity. However, market capitalization slipped by 2.34% to $3.23 billion, reflecting selling pressure. This contrast suggests that while traders are active, the overall valuation still faces resistance.
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According to crypto analyst Lennaert Snynder, APT’s daily chart shows a symmetrical triangle, typically associated with consolidation before a breakout. The structure shows lower highs meeting higher lows, reflecting the ongoing battle between bulls and bears. The token is now trading near the upper edge of this formation, indicating that a decisive move could be near.
Support remains firm in the $4.00–$4.20 zone, aligned with an ascending trendline from June. On the upside, resistance at $4.80–$5.00 remains a hurdle before targeting stronger levels at $5.48, $6.13, and $6.75. These levels represent historical swing highs and key decision points for traders.
If APT penetrates the $4.80–$5.00 region by heavy volume, then a move toward $5.48 is in sight. Success in a retracement would confirm bullish sentiment. Nevertheless, rejection would see the price slipping downward toward $4.30 or back toward $4.00, inducing bearishness if support is not upheld.
Sentiment is bullish in the derivatives market, albeit moderately, though conviction is weaker. Open interest is down by 3.95% at $362.65 million, indicating leveraged positions are being phased out by traders. Trading volume is, however, quite sluggish, indicating a sign of consolidation and indecision.
Moreover, the OI-weighted funding rate is 0.0126%, which indicates that long positions are slightly prevalent. This is an indication of a mild bullish bias, though a convictionless one. Lower trading volume is once again reinforcing a phase of consolidation, as traders avoid aggressive positions.
Right now, Aptos holds within a neutral to mildly bullish setup. Traders await a clear breakout from the triangle pattern, with volume confirmation likely to dictate the next major trend.
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