Aptos (APT) Price Surges 7% Amid Bullish Momentum
Aptos (APT) Rises as Bulls Take Control
Aptos' APT token experienced a significant surge, climbing 7% in the last 24 hours. According to CoinDesk Research's technical analysis, the price increased from $4.34 to $4.62.
The bullish momentum was particularly strong during the overnight hours leading into the morning of August 8. Volume surges exceeding 12.9 million units pushed the asset through resistance levels, establishing new support around $4.61-$4.66. Resistance is now observed at $4.72.
Aptos Leads in Real-World Asset Tokenization
Aptos has also made strides in real-world asset (RWA) tokenization. The Layer-1 blockchain has surpassed Solana and Stellar, securing third position globally with over $719 million in total value locked (TVL) in RWAs.
Market Context
The APT rally aligns with a broader upswing in the crypto market. The Coindesk 20, a gauge of the wider market, recently increased by 3.2%. Aptos was trading around $4.62, up 7% over the last 24 hours.
Key Technical Indicators:
- 24-hour price range: $0.44, encompassing a 9.4% range, with a high at $4.72.
- Volume: Surges exceeding 12.9 million units during nocturnal hours extending into early morning of Aug. 8.
- Support: Zone established at $4.61-$4.66 with robust institutional accumulation at $4.36.
- Resistance: Threshold confirmed at $4.72 with substantial volume-driven rejection pattern.
- Trend: Ascending trough formations suggest continued upward pressure towards $4.80-$4.90 Fibonacci levels.
- Distribution: Terminal hour reversal with 126,000+ volume surge confirming institutional distribution activity.