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Aptos Price Rises Daily, Faces $19 Resistance, Targets $34 Breakout
- Aptos (APT) is currently trading at $4.42 with a 10.85% daily price increase, despite a weekly decline.
- The technical chart suggests a bullish scenario if the price surpasses the $19 resistance level.
- The support level at $4.5 has been breached, indicating vulnerability to further downside pressure.
- To achieve a breakout target of $34, Aptos needs strong volume and sustained momentum.
- The token experienced a significant surge in volume to $11.57 billion amidst the price increase.
- Mixed signals are observed as the recent price drop pushed Aptos below the key $4.5 support level.
- A trading chart shared on social media outlines a bullish long-term outlook, highlighting a resistance zone between $18 and $19.
- A breakout towards $34 is suggested, but the recent decline challenges this outlook and the validity of support levels.
- Technical analysis indicates the $18-$19 range as a crucial resistance area, requiring positive volume for a breakout towards $34.
- Aptos' movement is closely tied to the overall market direction, particularly influenced by Bitcoin's trend.
- Daily closes above $19 and strong trend signals are essential for confirming a bullish scenario.
- The potential breakout to $34 may face challenges without substantial volume support and sustained positive momentum.
- Global market volatility could lead to retesting lower price levels, especially if Aptos fails to reclaim $4.5.
- High institutional interest in crypto funds is noted, suggesting improving market sentiment.
- Aptos tracking alongside Bitcoin indicates a correlation in movements, hinting at potential price surges with Bitcoin's strength.
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