- Aptos (APT) price trades above $14 on Tuesday after bouncing off the previous week’s key level
- DefiLlama data shows that APT’s Total Value Locked (TVL) reaches record levels, indicating growing activity and interest within the Aptos ecosystem
- A daily candlestick close below $10.26 would invalidate the bullish thesis for APT
Aptos (APT) has been showing promising signs of a potential rally. Currently trading above $14, Aptos has seen a bounce from last week’s pivotal level, indicating a possible upward momentum. The total value locked (TVL) in Aptos has reached a record high, further strengthening the bullish sentiment.
Aptos Price Recovery and Potential Rally
Aptos price experienced a decline of over 20% after being rejected at the $15.03 level on December 7. However, Aptos managed to find support at the daily level of $10.26 and has since been showing signs of recovery. If Aptos continues its upward trajectory and manages to close above the $15.03 level, it could potentially rally by 27% to retest its yearly high of $19.37, seen in March.
Aptos Momentum Indicators Support Bullish Outlook
The Relative Strength Index (RSI) of Aptos on the daily chart reads 57, which is above the neutral level of 50. This suggests that the bullish momentum of Aptos is gaining traction. Furthermore, the Moving Average Convergence Divergence (MACD) indicator is close to indicating a bullish crossover on the daily chart. Such a crossover would give buy signals, suggesting an upward momentum.
Increase in Aptos TVL Indicates Growing Interest
Data from crypto intelligence tracker DefiLlama shows that Aptos’s TVL has increased from $11.4 billion on December 11 to $12.9 billion, indicating growing activity and interest within the Aptos ecosystem. This suggests more users are depositing or utilizing assets within APT-based protocols, adding credence to the bullish outlook.
Conditions for Invalidating the Bullish Thesis
The bullish sentiment for Aptos would be invalidated if the daily candlestick closes below $10.26. In such a case, Aptos could potentially extend its decline to retest the psychologically important level of $10.
Conclusion
In conclusion, Aptos (APT) shows promising signs of a potential rally in the coming days, with its current price recovery and the increase in total value locked (TVL). However, investors should also be aware of the conditions that could invalidate this bullish outlook. As with any investment, it is crucial to conduct thorough research and consider the associated risks before making any investment decisions.
