Aptos (APT) Price Soars 16% Higher Amid $20 Million Inflows
Aptos (APT) Price Soars 16% Higher Amid $20 Million Inflows
Meta Description: The recent surge in the Aptos price was accompanied by a significant inflow in the derivatives contracts
The Open Interest contracts have witnessed a rise of nearly 50% in the last couple of sessions.
At the time of writing, Aptos price was up over 16% a day, exchanging hands close to $6.60.
Aptos price gained traction and noted a massive 16% rise today. The recent surge has amplified the possibility of a bullish reversal in the crypto. Aptos price has performed extremely well in recent sessions rising over 25% a week.
Moreover, the recent surge in the APT price seems to have been accompanied by a significant inflow in the derivatives contracts. As per the analysts the derivatives contracts have noted a robust growth of over 50% thus driving the price closer to the higher swings.
Despite the recent efforts, Aptos has still not invalidated the higher supply which adds a risk of selloff at the higher levels. At the time of writing, Aptos was trading close to $6.6, recording an impressive 16% rise in Intraday.
Open Interest Contract Spikes By 50%
Aptos price has performed extremely well in recent sessions adding nearly 25% a week. Earlier, the crypto noted a nearly 30% crash in tandem with the broader markets fall. However, the recent recovery has been quick and loaded with momentum indicating the possibility of a trend continuation.
<iframe title="Santiment Chart: Total Open Interest in USD (APT), Price (APT)" width="800" height="425" src="embed.santiment.net/chart?ps=aptos&pt=APT&df=2024-08-04T18:30:01.688Z&dt=2024-08-12T18:29:59.688Z&emcg=1&emhwm=1&wm=total_open_interest;price_usd&wax=0;1&wc=#FF5B5B;#26C953&ws={"node":"area"};" scrolling="no"></iframe>
Source: app.santiment.net
As per the analysts, the recent price surge has been largely driven by the derivatives traders. The last couple of sessions saw a notable 50% rise in the open interest data indicating a strong comeback by the buyers.
The Number open contracts were nearly $45 Million as recorded on 10th August. However, the number of open contracts jumped dramatically to $7 Million as observed by the analyst today indicating a nearly $22 Million rise. A rise in the open contracts often indicates a continuation in the price of the asset.
Can Aptos Head For A Bullish Reversal?
The short trend Outlook for Aptos has reversed to the bullish side after a strong surge in the recent sessions. The price has reclaimed above the 50 day exponential moving average indicating a sign of optimism in the short term.
However, APT price lags nearly 19% from the 200 exponential moving average indicating weakness in the long term. However, the long term trend may also shift the bullish side, if APT price continues to conquer higher levels with momentum.
On the higher side, the price has potential space of nearly 20% if it surpasses the recent supply of $7.5 level. Also, if the selling pressure exceeds and drags the price below the $4.9 level, it may invalidate the bullish scenario and may extend its decline towards the $4.5 level.
Aptos price surged 16% today, increasing the probability of a potential bullish reversal. The asset has risen over 25% in a week, recovering from an earlier 30% crash. Moreover, the recent price surge is largely driven by a 50% increase in derivatives contracts. The OI data has surged from $45 million to $67 million in the last couple of sessions.
Furthermore, the short-term outlook is bullish, with the price trading above the 50-day EMA, but it lags 19% behind the 200-day EMA. Now, If Aptos surpasses $7.5, it could gain another 20%. However, falling below $4.9 could lead to a decline towards $4.5.
Meta Description: The recent surge in the Aptos price was accompanied by a significant inflow in the derivatives contracts
The Open Interest contracts have witnessed a rise of nearly 50% in the last couple of sessions.
At the time of writing, Aptos price was up over 16% a day, exchanging hands close to $6.60.
Aptos price gained traction and noted a massive 16% rise today. The recent surge has amplified the possibility of a bullish reversal in the crypto. Aptos price has performed extremely well in recent sessions rising over 25% a week.
Moreover, the recent surge in the APT price seems to have been accompanied by a significant inflow in the derivatives contracts. As per the analysts the derivatives contracts have noted a robust growth of over 50% thus driving the price closer to the higher swings.
Despite the recent efforts, Aptos has still not invalidated the higher supply which adds a risk of selloff at the higher levels. At the time of writing, Aptos was trading close to $6.6, recording an impressive 16% rise in Intraday.
Open Interest Contract Spikes By 50%
Aptos price has performed extremely well in recent sessions adding nearly 25% a week. Earlier, the crypto noted a nearly 30% crash in tandem with the broader markets fall. However, the recent recovery has been quick and loaded with momentum indicating the possibility of a trend continuation.
<iframe title="Santiment Chart: Total Open Interest in USD (APT), Price (APT)" width="800" height="425" src="embed.santiment.net/chart?ps=aptos&pt=APT&df=2024-08-04T18:30:01.688Z&dt=2024-08-12T18:29:59.688Z&emcg=1&emhwm=1&wm=total_open_interest;price_usd&wax=0;1&wc=#FF5B5B;#26C953&ws={"node":"area"};" scrolling="no"></iframe>
Source: app.santiment.net
As per the analysts, the recent price surge has been largely driven by the derivatives traders. The last couple of sessions saw a notable 50% rise in the open interest data indicating a strong comeback by the buyers.
The Number open contracts were nearly $45 Million as recorded on 10th August. However, the number of open contracts jumped dramatically to $7 Million as observed by the analyst today indicating a nearly $22 Million rise. A rise in the open contracts often indicates a continuation in the price of the asset.
Can Aptos Head For A Bullish Reversal?
The short trend Outlook for Aptos has reversed to the bullish side after a strong surge in the recent sessions. The price has reclaimed above the 50 day exponential moving average indicating a sign of optimism in the short term.
However, APT price lags nearly 19% from the 200 exponential moving average indicating weakness in the long term. However, the long term trend may also shift the bullish side, if APT price continues to conquer higher levels with momentum.
On the higher side, the price has potential space of nearly 20% if it surpasses the recent supply of $7.5 level. Also, if the selling pressure exceeds and drags the price below the $4.9 level, it may invalidate the bullish scenario and may extend its decline towards the $4.5 level.
Aptos price surged 16% today, increasing the probability of a potential bullish reversal. The asset has risen over 25% in a week, recovering from an earlier 30% crash. Moreover, the recent price surge is largely driven by a 50% increase in derivatives contracts. The OI data has surged from $45 million to $67 million in the last couple of sessions.
Furthermore, the short-term outlook is bullish, with the price trading above the 50-day EMA, but it lags 19% behind the 200-day EMA. Now, If Aptos surpasses $7.5, it could gain another 20%. However, falling below $4.9 could lead to a decline towards $4.5.
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