Analysis of Aptos crypto with support and resistance levels, which historically influenced its price trajectory, suggested potential uptrend continuation.
The support zone at $10.36 played a crucial role in recent months, providing a robust foundation that prevented further declines.
As the price ascended, it encountered resistance at $16.74 and $19.21, which coincided with past pricing behavior that marked turning points for APT.
APT recently moved above the $16.74 mark, aiming for the next significant resistance level at $20.
This movement aligned with a larger recovery pattern, the retest with price momentarily dipping below a key support before reclaiming it to validate the bullish sentiment.
Volume denotes trading intensity, with notable spikes suggesting key buying or selling moments. These spikes often align with price pivots, confirming areas of strong market interest.
The RSI hovered around neutral, suggesting that while there was momentum, it was not yet in the overbought or oversold territory. This provides room for potential uptrend continuation.
The setup combined with anticipated ‘buy the dip’ sentiment during the last correction, indicated a possible continuation towards the $20 zone if current support levels hold firm.
Number Active Addresses on Aptos Blockchain
The on-chain activity on the Aptos blockchain also growth throughout 2024, as suggested by the continuous rise in the number of active users.
Starting from January, all three categories of user engagement—daily, weekly, and monthly—demonstrated significant upward trends.
The daily active users began the year with modest numbers but have experienced consistent growth. User count peaked in late November before a slight dip and subsequent recovery in December.
Weekly active users followed a similar trajectory but with a more pronounced peak around June. This highlighted a period of intense activity or possibly a significant event or update on the network.
Monthly active users have exhibited a steady and steep increase throughout the year. The number surged, particularly from August onwards, reaching near 10 Million by December.
This escalating pattern of active users activity suggested that Aptos crypto was gaining considerable traction and user adoption.
Aptos Crypto TVL Surpasses $1.2 Billion
Furthermore, Aptos DeFi ecosystem saw exponential growth with the total value locked (TVL) surging past $1.2 Billion, marking a staggering 19x increase year-over-year.
The TVL of Aptos over the past two months doubled with the TVL in USD and in Aptos tokens, showing a strong trend albeit with some volatility.
This growth could be attributed to the adoption of Aptos by major protocols and a spike in transaction activities.
Notably, Aptos recently surpassed Ethereum in quarterly transaction count reflecting its growing market presence.
The platform’s integration with BlackRock’s BUIDL initiative and the surge in its stablecoin market cap, which was nearly 40% of its TVL, indicated its broadening institutional appeal.
Moreover, the ecosystem’s vibrant activity was highlighted by its weekly active addresses, reaching 4.1 Million, and a cumulative transaction count of 2 Billion.
DEX volumes on the network have also skyrocketed, achieving a 28x increase over the last year, as reported by Messari.
This positioned Aptos as a key player in the DeFi space, potentially setting the stage for continuation towards $20 in the coming months.
