Aptos Price Surges 14% as Binance Extends USDT on Aptos: Is $20 Next For APT?
Highlights:
- Aptos price rallies 14% to trade at $13.75 as trading volume spikes.
- The recent uptick comes as Binance lists USDT on Aptos.
- With the bullish momentum bolstering, Aptos’ price could reach $20.
Aptos price, a Layer -1 Proof-of-Stake (PoS) blockchain, has exploded in a splendid show of bullish muscle with 24-hour gains of 14%. The growing interest in the token has seen the trading volume spike by more than 8% to $631.89 million, while the market is up 14% to $7.37 billion. Currently, Aptos price is trading at $13.75 at the time of writing.
What Is Behind Aptos Rally?
The recent surge comes as Binance lists USDT on Aptos. Moreover, the Aptos platform revealed that on-chain deposits and withdrawals are now open.
🚨 The wait is over.
Support for native USDT on Aptos is now LIVE on @binance. Accelerate on-chain with deposits and withdrawals now open! ⚡ pic.twitter.com/PEcEgj961v
— Aptos (@Aptos) December 11, 2024
On the other hand, Aptos Foundation expanded its reach with a new office in Abu Dhabi. This expansion marks an important milestone in the Aptos Foundation’s mission to build a strong global blockchain ecosystem.
EXCITING NEWS! The Aptos Foundation has opened a new regional office in Abu Dhabi 🇦🇪
This expansion reflects the UAE's rising status as a global leader in blockchain innovation and forward-thinking builders.
We're thrilled to provide our ecosystem projects and developers with…
— Aptos (@Aptos) December 11, 2024
Aptos Statistical Data
Based on CoinmarketCap data:
- APT price now – $13.75
- Trading volume (24h) – $631.89 million
- Market cap – $7.37 billion
- Total supply – 1.13 billion
- Circulating supply – 536.44 million
- APT ranking – #25
Aptos Price to Continue the Upside Bullish Momentum
Aptos’ price is trading well within the confines of a rising parallel channel after a recent correction. The bulls show no signs of stopping anytime soon, as they have printed long green candlesticks, with the green wick currently touching the $13.72 level in the daily chart timeframe.
Initial buy orders coincided notably with the 50-day Simple Moving Average (SMA) (green) at 11.46. Moreover, the current technical picture seems vital for a more significant breakout. Aptos holds above all bullish indicators in the short term, with the 50-day SMA (green) at $11.42 and the 200-day SMA (blue) at $8.34 in line to offer support. However, to be safe, bulls must uphold higher support at $14.29 to encourage already sidelined investors to join the uptrend without worrying about sudden corrections.
Based on the Relative Strength Index (RSI) position at 56.54, it tilts the odds towards the buyers. Moreover, there is more room for upside before Apto’s price is considered overbought. Increased buying pressure at this level will cause the Aptos price to rise above the upper boundary of the rising channel.
The moving Average Convergence Divergence (MACD) indicator upholds the bearish picture with a sell signal. While traders sought exposure to APT as the blue MACD line crossed above the orange signal line, they were likely to close positions if the opposite happened. In other words, traders will be inclined to sell if the blue MACD line flips below the orange signal line.
Aptos Price Poised for a Rally to $20
With the recent developments surrounding Aptos and the bullish sentiment in the Aptos market, the token may rally to $20 soon. This can be backed by the recent developments of Aptos native USDT on Binance. Moreover, the Aptos Foundation’s opening a new office in ADGM could also result in an uptick. All these factors could lead to Aptos’ market exposure, leading to potential investors flocking to APT.
If the support levels stay intact, the Aptos price could obliterate the $14.79 resistance and rally to $17.5 or above $20. On the other hand, if the bears step into the market and the whole market turns negative, Aptos may fall, chasing the 11.42 support level.
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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