Aptos (APT) has risen close to 40 percent, keeping up with the revived crypto market with Bitcoin (BTC).
The cryptocurrency market has been on the rise since the beginning of the year. The uptrend, which started with the leading cryptocurrency Bitcoin, brought along resistance breakdowns on the altcoins side. Many altcoins have managed to break the long-standing downtrend. One of these altcoins, Aptos, continues its 44 percent rise yesterday. Popular cryptocurrency APT is spending the day up 33 percent.
Why Is Aptos Rising?
Aptos (APT), one of the most popular crypto money projects of recent times, has experienced a rise of about 66 percent since the beginning of the year.
Aptos came to the fore with project developments and ecosystem expansion. The project, which launched a mainnet late last year, managed to create a crypto community in a short time. Although APT leaves a question mark about the supply, the appetite of crypto investors has increased day by day.
Current data does not include any market developments for Aptos. The project has yet to undertake any work other than marketing and ecosystem enhancements. However, this rise paralleled the rise of the overall cryptocurrency market. APT was also included in the upward trend that started with Bitcoin.
Aptos Chart Analysis, Will APT Continue to Rise?
Ethereum scaling and Layer-2 protocol Aptos (APT) continues its uptrend during the day.
APT, which started to rise by accompanying the general market movement two days ago, became the preference of whales yesterday evening. The popular cryptocurrency experienced a volatile rise despite its current market cap.
The intensification of the uptrend on the APT side was realized by breaking the resistance points. According to the latest data, the crypto currency has managed to maintain persistence above the resistance points it has broken.
APT has managed to assess the rise of the cryptocurrency market. The popular project continues its progress by overcoming the resistance points by backing the FOMO process in the market.
APT managed to erect a strong candle by breaking the resistance level at $4.18 yesterday evening. Following the volume increase and whale entries, the process carried the popular cryptocurrency to the next resistance point at $4.94. APT, which surpassed the $4.94 resistance around 6 pm yesterday evening, managed to maintain persistence around this region. Although it is in an uptrend, it pulled back by pinning the resistance at $5.42.
APT could resume its uptrend if it stays in this area and breaks the $5.42 resistance. If it manages to hold above $5.42, it could make a move to the next resistance level at $6. APT, which gained strength by supporting the $4.94 level several times yesterday evening, managed to consolidate this region.
But on the other hand, bearish signals may also come for APT. The inflated price and charts of the cryptocurrency market may create the need for a correction. Correcting APT might try to gain strength from the $4.94 support zone. Losing this support point could make APT visit the $4.18 support.
On a possible support breakout and a loss of strength, the most important support zone for APT could be the $3.78 level. This region displays an image that is hard to lose unless there is a trend change.
Looking at all these data, it should be noted that the cryptocurrency market is turbulent and a trend change may occur for any reason.