Aptos demonstrates significant support at the $4.20 level, which could serve as a launching point for further growth, contingent upon increased buying activity.
Support at $4.20
Aptos has found significant support at the $4.20 level, aligning with the 0.618 Fibonacci retracement and the value area low. This level may serve as the basis for a continuation of the upward trend if buying volume supports price stability.
Importance of Volume for Trend Confirmation
Despite the favorable technical setup, a rebound to higher levels heavily hinges on volume. The ongoing decline in trading activity during the consolidation phase highlights the need for fresh bullish inflows.
Future Movement of Aptos
Should Aptos be able to maintain above $4.20, a rally towards the $5.40 resistance level becomes plausible. Sustaining this level will reinforce the upward trend; however, failing to do so may challenge the bullish trend.
The current position of Aptos requires close attention to the $4.20 support level, which may determine the cryptocurrency's direction in the near future.
