Aptos surged 15% – Can APT aim for $5.50?

Aptos (APT) has bounced back from a recent low, breaking through the descending channel to reach a local peak of $5.14 on June 25.

This marks a strong recovery from the previous low of $3.70. Currently, APT is trading around $4.85, slightly falling but still showing signs of resilience.

The trading volume of this altcoin skyrocketed by 263% to 633 million USD, reflecting the increasing on-chain activity.

Smart money moves quickly…

Derivative traders are not sitting still. According to DeFiLlama, the trading volume of perpetual contracts for Aptos has surged to 42.46 million USD as speculators rush to take advantage of the price increase.

Source: DefiLlamaThis indicates that when the market starts to rise, many speculative traders have entered the market, reflecting an increasing risk appetite.

Of course, a sudden surge in the Volume of perpetual contract trading is rarely the result of a single signal.

The open contract (OI) also surged 31% to 205 million USD, according to data from CoinGlass.

When both the trading volume of perpetual contracts and OI increase simultaneously, this often signals new capital flowing into the market as traders prepare for higher volatility ahead.

Where there is faith, there is accumulation

Source: CoinGlassDue to increased demand, investors are buying more than selling, as reflected in the negative spot net flow at -1.74 million USD.

Data shows that over 16.5 million APT tokens have been bought during this price surge.

Source: CoinalyzeUsually, an increase in demand leads to buying pressure before prices fall further.

Aptos bulls regain the upper hand

According to the analysis, Aptos has experienced a strong rise as buyers return.

When looking at momentum indicators, APT is experiencing a strong upward move, as it has recently closed at a higher peak.

The +DI indicator of DMI surged to 29 while the -DI has fallen to 14.

Source: TradingViewAmid this positive uptrend, the RSI of the altcoin has also risen to 56, entering the bullish zone and showing no signs of stopping.

If the momentum continues to increase, APT may reclaim the level of $5.25 and head towards $5.50. However, buyers still need to convincingly defend $5.00 to maintain this trend.

The inability to regain and close above $5.00 could quickly reverse sentiment. If rejected, APT may slide back to $4.53.

Vincent