Aptos (APT) Eyes Upside as Ecosystem Activity Surges

2 min read | December 17, 2024 05:45 PM AEDT | By Team Kalkine Media

Highlights

  • Aptos (APT) price shows strong recovery momentum, trading above $14.  
  • Total Value Locked (TVL) in the Aptos ecosystem reaches $1.29 billion.  
  • Momentum indicators hint at further upward movement.  

Aptos (APT) price has shown a strong recovery, trading above $14 after a significant bounce from its support levels. Data indicates that the Total Value Locked (TVL) within the Aptos ecosystem has reached $1.29 billion, signaling increased activity and interest in the platform.  

APT experienced a decline after being rejected at the $15.03 level in early December. The price dropped more than twenty percent within a span of three days, briefly reaching a support level of $10.26 on December 11. However, the asset regained momentum and recovered much of its losses. As of Tuesday, Aptos is trading near $14.17, demonstrating renewed upward momentum.  

If Aptos price sustains its current recovery and closes above $15.03, it may continue its upward trajectory. This would allow APT to retest its yearly high of $19.37 recorded in March. Such a move would reflect a solid rally of over twenty percent from current levels.  

Technical indicators further strengthen the positive outlook. The Relative Strength Index (RSI) on the daily chart is at 57, indicating that the bullish momentum is gaining strength. Typically, RSI readings above 50 suggest buyers are in control. Moreover, the Moving Average Convergence Divergence (MACD) indicator appears to be nearing a bullish crossover. If the MACD line crosses above the signal line, it would confirm growing upward momentum.  

Supporting this trend is data from blockchain analytics platform DefiLlama, which reveals that Aptos’ TVL climbed from $1.14 billion on December 11 to $1.29 billion as of Tuesday. This consistent rise in TVL since mid-November suggests growing confidence among users within the Aptos ecosystem. An increase in TVL generally reflects higher activity as more assets are deposited or utilized in APT-based protocols.  

Despite the bullish signals, APT faces a critical support level. If the price falls and the daily candlestick closes below $10.26, it could invalidate the current positive outlook. In such a case, Aptos may retest its psychological support around $10.  

With rising TVL and improving momentum, Aptos (APT) remains a key focus in the cryptocurrency market, with traders eyeing potential price levels in the days ahead.  


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.