Aptos crypto breaks key six-month resistance – Is $14 the next target?

• Aptos broke a crucial six-month supply zone.
• The subsequent retest and bounce suggest further gains are likely.

Aptos [APT] exhibited strong bullishness on the daily chart. It cleared the $10 resistance zone from April and showed that it had the strength to move toward $14 next.

APT has rallied by 46.5% this October. In comparison, Bitcoin [BTC] was up by 14.5% from its monthly lows. A bullish trajectory for BTC would further aid Aptos’ prospects.

Aptos crypto clears the $10 psychological hurdle

In April, Aptos crypto tentatively bounced to $10.3 in the middle of a strong downtrend, but the bulls could not defend this bounce. It registered a bearish order block on the daily chart. After six months, buyers have managed to flip this zone from resistance to support.

They did this on the back of heightened demand. The volume bars showed heavy trading activity, and the rising OBV suggested increasing buying pressure. This pointed out that the market structure was bullish, as was the momentum.

Additionally, based on the rally from $4.32 to $7.57 in August, the 100% Fibonacci extension level at $10.82 has been tested.

To the north, the next significant resistance zone was the bearish order block at $14.

Liquidation heatmap highlights short-term targets

The 1-month look back period liquidation heatmap outlined the $11.2-$11.4 area and $9.4-$9.6 area as magnetic zones in the vicinity of current market prices.

Given the demand and momentum, a retracement below $10 appeared unlikely.

Read Aptos’ [APT] Price Prediction 2024-25

But keep in mind that a heightened BTC volatility might bring an Aptos pullback, making the $9.4 support zone a buying opportunity.

As things stand, the bullish target for the next move is the $14 resistance zone.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion