Aptos Surges 9.48%: Bulls Eye $7.89 as Support Holds

Aptos (APT) has been making waves in the cryptocurrency market, with investors eagerly watching its price action. The token is currently trading at $6.18, reflecting a 9.48% increase from its previous price. This surge has caught the attention of investors, as APT shows promising signs of a potential rebound from its established support level.

Historically, the support zone around $5.91 has acted as a strong floor for APT, offering opportunities for Dollar-Cost Averaging (DCA) investors. The recent retest of this descending trendline and accumulation zone signals possible bullish momentum for the token. If APT can hold this crucial support level, it could target $7.89 before testing the $10.00 resistance. However, if the $5.91 level fails to hold, the downside risks become more significant, making it essential for investors to keep a close eye on this critical support zone.

Technical indicators suggest that APT could be ready for a bullish reversal. The Relative Strength Index (RSI) was at 48.04, indicating neutral conditions but edging towards oversold territory. Additionally, the Moving Average Convergence Divergence (MACD) was signaling a shift toward bullish momentum, with the blue line at 0.10 and the orange signal line at -0.33. These indicators suggest that APT is beginning to gain upward momentum, which might lead to a price surge if the support holds.

Social activity has also been pushing Aptos toward a potential breakout. Social Volume and Dominance for APT have been rising, with social dominance at 0.53% and social volume increasing steadily. This growth indicates more investor interest and heightened attention on social media platforms, often leading to price surges. As more traders get involved, this can propel APT toward higher price levels, especially if the overall market sentiment turns positive.

Growing Open Interest (OI) has also been signaling increased confidence in APT. The APT OI has risen by 15.67% to $162.83M, indicating that traders are betting on further price increases. The total liquidations of $221.3K—$117.38K from longs and $103.73K from shorts—