Aptos (APT), a promising cryptocurrency, has recently displayed bullish momentum, with market participants closely monitoring whether it can surpass the critical $10 threshold. Following a notable 29.98% rise over the past week, APT’s growth has slowed slightly, rising by just 1.59% in the last 24 hours. However, this short-term pause may signify an accumulation phase, preparing the coin for its next major breakout.

With chart patterns and technical indicators aligning in favor of Aptos, the question remains: will APT reach double-digit levels? Let’s explore the critical factors driving APT’s market action and what investors should watch for in the coming days.

Bullish Patterns on the Horizon

One of the most promising signs for Aptos is the emergence of an inverse head-and-shoulders pattern on its chart. This bullish formation is often considered a precursor to significant price rallies. In the case of APT, this pattern, combined with an ascending triangle, has indicated strong upward potential. Both formations suggest a rally mirroring the distance between the head of the pattern and its neckline, potentially propelling APT past the $10 mark.

While price movements have been gradual in recent trading sessions, with some selling pressure slowing the upward trajectory, technical analysis still points to a continued bullish outlook.

Why Aptos Could Hit $10 Soon

Several key factors support the possibility of Aptos breaching the $10 barrier. The Relative Strength Index (RSI) and Chaikin Money Flow (CMF) indicators show that despite the current consolidation, APT could be set for another upward surge.

• RSI Analysis: The RSI recently hit 74, suggesting that Aptos was briefly in an overbought condition. It has since adjusted to 70.25, a healthy level that often signals a buying opportunity. As the RSI trends upward again, it reflects growing buying interest among market participants, further solidifying the possibility of a rally.
• CMF Analysis: The Chaikin Money Flow indicator currently shows a value of 0.30, indicating a strong accumulation phase. This metric, which measures the volume of buying versus selling pressure, suggests that investors are strategically acquiring APT in anticipation of the next rally.

Accumulation Phase Points to Potential Breakout

The slowdown in APT’s price can be attributed to short-term selling, as traders attempt to lock in profits. However, this period is likely part of an accumulation phase, where investors purchase APT at lower prices before the next upward movement. The CMF’s positive reading confirms this buying pressure, suggesting that APT could soon exit this phase and begin its ascent.

Historically, such accumulation phases precede significant price movements, and with technical indicators aligning, many market analysts believe APT’s next big rally is imminent.

Monitoring Open Interest for Market Signals

Open interest (OI), a key metric that measures the total number of active derivative contracts, offers additional insight into APT’s current market dynamics. According to data from Coin glass, open interest on Aptos dropped from $154.45 million on September 25 to $145.02 million—a sign that some traders are attempting to push APT’s price lower. However, OI has since rebounded by 1.66%, indicating that bullish sentiment is building once again.

As more traders open long positions, the uptick in open interest suggests that APT could soon exit its consolidation phase and embark on a rally toward double-digit values.

Key Levels to Watch for Aptos

For investors and traders looking to capitalize on APT’s potential rally, several key levels should be closely monitored:

1. $9.00 – $9.50: This range represents a crucial resistance zone. If Aptos breaks above this level with sustained buying pressure, it could quickly ascend toward the $10 mark.
2. $10.00: APT’s psychological barrier. Surpassing this level would signal a significant bullish breakout and could attract more investors to the market.
3. $11.00 – $12.00: Beyond $10, the next target for APT would likely be the $11 to $12 range, where further resistance may emerge. If the rally continues beyond this point, Aptos could establish a new support level in the double digits.

What Could Hinder Aptos’ Rally?

While the technical outlook for Aptos appears favorable, there are several factors that could prevent or delay the anticipated rally:

• Macroeconomic Factors: Broader market conditions, including global economic uncertainty or sudden shifts in investor sentiment, could introduce volatility into APT’s price action.
• Profit-Taking: After significant gains, there’s always the risk of profit-taking by short-term traders, which could temporarily stall upward momentum.
• Regulatory Concerns: Regulatory actions or announcements related to the crypto market could impact investor confidence, potentially slowing Aptos’ growth.

Conclusion: Can Aptos Surpass $10?

Given the technical indicators, market sentiment, and ongoing accumulation phase, Aptos appears well-positioned to breach the $10 mark. The emergence of bullish patterns like the inverse head-and-shoulders and ascending triangle, coupled with strong accumulation signals, suggests that APT could rally soon.

However, investors should remain cautious of potential headwinds, such as market volatility and profit-taking. Monitoring key levels and keeping an eye on open interest and accumulation trends will be crucial in determining whether Aptos can sustain its momentum and push into double-digit territory.

With the right conditions, Aptos could soon offer significant returns for those who hold through the current consolidation phase. Keep an eye on market developments as APT navigates its next major move.