Aptos Price Plummets 12% as Strong Volume and TVL Could Stir a Rebound – Is $21 the Next Target?

Highlights:

• Aptos price dwindles 12% to $9.22 as trading volume spikes. 
• According to analysts, Apto’s strong volumes and Bitcoin’s momentum could see APT target $22.83. 
• Aptos has had a noticeable increase in trading volume, and TVL is showing heightened market activity. 

The Aptos price has plummeted 12% to $9.22 as the crypto market faces waning sentiment. Despite the fall, its daily trading volume has skyrocketed by 51% to $ 723.68, signaling heightened market activity. 

According to the insights platform, Decilizer, Aptos rebounds from $7.47 support and targets $22.83. This is backed by strong volumes, and Bitcoin’s momentum supports its climb. Observing BTC dominance provides vital cues for timing trades to capitalize on $APT’s bullish trend.

$APT rebounds from $7.47 support, targeting $22.83. Strong volumes and Bitcoin’s momentum support its climb. Observing $BTC dominance provides vital cues for timing trades to capitalize on $APT’s bullish trend. pic.twitter.com/5M40q08JcR

— Decilizer (@decilizer) January 8, 2025

Aptos Statistical Data

Based on CoinmarketCap data:

• APT price now – $9.22
• Trading volume (24h) – $723.68 million
• Market cap – $5.2 billion
• Total supply – 1.13 billion
• Circulating supply – 559.01 million
• APT ranking – #30

As the broader crypto market is waning, the Aptos price is no exception. The APT token has dwindled mercilessly, currently trading at $9.22. The APT token is at a confluence of support and resistance zones, as illustrated in the daily chart timeframe.

The horizontal support/resistance level, represented by an orange line, has historically been a critical price point, acting as both support and resistance. If the Aptos price breaks above the resistance zone at $11.57, it could continue its upward movement. 

Aptos Technical Outlook Shows Mixed Sentiment

Diving into the technical outlook, the bulls must bring down the immediate resistance at $11.57 to initiate a rally. However, they have established long-term support at $8.62, enabling them to have the upper hand. 

The RSI (Relative Strength Index) has plunged below the 50-mean level, suggesting dwindling buyer momentum. Its position at 40.25 suggests that the bears are taking the reins; hence, a pullback to the 30-oversold is imminent if the buyers won’t gain strength. 

On the other side of the fence, the MACD (Moving Average Convergence Divergence) upholds a bullish outlook. This is evident as the blue MACD line has crossed above the orange signal line, calling for traders to rally behind APT. The histograms print green bars, showing bullish momentum and increased buying interest. In the meantime, investors are inclined to buy APT tokens unless the MACD changes. 

Meanwhile, Aptos’s price is boosted by the noticeable increase in trading volume and TVL. According to Azin, a crypto analyst, over 96.6% of APT trading volume happened on CEXs, totaling a whopping $728.5 Million. Moreover, Aptos ranks second only to Ethereum (ETH) in terms of TVL/Market Cap ratio, standing at 27.8%. 

What Next for Aptos Price?

As traders and investors closely monitor the price action, the sentiment around APT is shifting. The market is consolidating near this pivotal price level, reflecting indecision as traders weigh the potential outcomes. 

If the bulls capitalize on the buy signal from the MACD and investors rally behind APT, they could reclaim the $10.49. A successful confirmation of this level on higher timeframes could pave the way for a bullish rally above the $11.57 barrier to $14.61. In a highly bullish case, Aptos’ price could hit $21. On the downside, if the bears capitalize on the southbound RSI, which shows some bearish prospects, the Aptos price could fall through to the $8.62 support area.