Today, Aptos (APT) showed significant growth, reaching the mark of $5.27 before retreating to $5.00. This movement occurred against the backdrop of Bitwise's ETF filing update.
Aptos (APT) Growth and ETF Impact
Aptos (APT) rose over 7%, briefly hitting $5.27 before slightly dropping to $5.00. This increase coincided with Bitwise's amended ETF filing that introduces in-kind redemption mechanics aimed at optimizing tax efficiency and improving regulatory approval chances.
As a result, Aptos has gained recognition as a viable blockchain asset within regulated investment vehicles.
Technical Analysis and Predictions
The current market capitalization of APT stands at $3.22 billion, reflecting a daily gain of 7.35%. The 24-hour trading volume soared to $449.83 million, marking a 75.3% increase.
Technically, APT faces immediate resistance near $5.30. A decisive break above this level could lead to a rally toward the $5.65-$5.85 area. Meanwhile, support is observed at $4.70, with a breakdown below that level potentially resulting in a pullback toward $4.40, where recent accumulation has occurred.
Current Market Overview
The Relative Strength Index (RSI) currently reads 55.75, indicating moderate bullish momentum, while its 14-day average lags at 43.49, hinting at an improving price structure.
Additionally, the Chaikin Money Flow (CMF) has turned positive at 0.05, suggesting net capital inflows and accumulation, further affirming ongoing upward pressure. Recent price action is also supported by moving average crossovers.
If the broader market holds, Aptos may sustain its rally with intermittent corrections. The current technical posture is aligning with improving fundamentals, particularly due to Bitwise's renewed ETF push.
