Aptos (APT) Price Prediction 2023 – Will APT Recover to Retest its ATH?

Aptos [APT] has experienced a sharp correction, but at press time, the price had moved to consolidate in a crucial accumulation zone between $7.50 and $8.50.

Aptos (APT) price showed signs of consolidation after a sharp correction, with a crucial accumulation zone identified between $7.50 and $8.50.

Technical analysis suggested further bullish potential if APT clears the $10 resistance, aiming for higher targets like $12.50 and $15.

However, immediate resistance was encountered at the 13-period and 49-period moving averages, currently around $8.71 and $8.95, respectively.

Despite the recent Golden Cross (13-period MA crossing above the 49-period MA), indicating bullish momentum, the price had fallen below both moving averages.

The Relative Strength Index (RSI) remained neutral-bullish, indicating potential for upward movement.

Moreover, the Money Flow Index (MFI) was at 36.36, suggesting mild accumulation without significant buying pressure.

Crucial support was present at $8.50, with further declines possible toward $8.00 if this level is breached.

On the other hand, a move above $9.18 could signal renewed strength and open the door to higher resistance levels.

According to Coinglass, APT futures Open Interest (OI) was $224.99 million at the time of writing.

This OI had increased by 8.89% over the past 24 hours, indicating renewed trader participation and speculative activity.

Traders were actively positioning themselves for a potential price movement, as indicated by the rising OI.

Historical OI trends showed fluctuations throughout 2024, peaking near $400 million in March and November.

The current build-up in OI suggests growing anticipation for increased volatility, especially as APT approaches the critical $10 resistance.

Liquidation data showed $33.22K in long positions and $7.81K in short positions, liquidated at a price of $8.6876.

The majority of liquidations occurred on OKX, with $24.72K in long liquidations, indicating active trading.

Liquidation levels remained low, signaling moderate leverage in the market.

APT price action suggested consolidation, but a breakout above $10 could trigger stronger bullish momentum and higher targets.