Crypto:
29856
Bitcoin:
$67.904
% 1.96
BTC Dominance:
%52.9
% 0.21
Market Cap:
$2.53 T
% 1.90
Fear & Greed:
76 / 100
Bitcoin:
$ 67.904
BTC Dominance:
% 52.9
Market Cap:
$2.53 T

January’s Biggest Unlock: Aptos (APT)

Aptos (APT)
Aptos (APT), one of the most talked-about names recently, is gearing up for the largest unlocking event of January 2024. What are the significant levels for APT? What are the levels that could support the price if a decline occurs? Here is the technical analysis we have prepared for APT!
Also known as Aptos Labs, has become one of the most talked-about altcoins lately, focusing on creating a scalable Layer-1 blockchain, similar to Layer 1 blockchains like Ethereum, Avalanche, and Solana.

Aptos Lock Opening Worth $225 Million

Aptos conducted its last unlocking event on December 12, 2023. The unlocked token amount was worth $193.27 million, which accounted for 8.06% of the total market cap.
With the current total market cap at $3.20 billion, Aptos will have a new unlocking event on January 12, 2024, at 04:59. The unlocked token amount is announced to be $225.57 million, representing 8.06% of the total market cap.
Unlocking events can lead to volatility in upcoming altcoins, impacting the price negatively. Significant buying points may emerge in case of potential retracements.

What are the Important Levels for Aptos (APT)?

Aptos (APT)

Aptos (APT) is currently testing the strong resistance level at $11 on the daily chart, which it attempted to break in recent days. After failing to break the resistance in its last attempt and making a spike down to the $7.8203 level, the price closed above the support zone at $8.97 – $9.20. Now, returning to the resistance zone, if APT successfully breaks the resistance with volume support, we might see a move towards the $13.5 resistance level.
The initial support zone that the price could hold in possible retracements is highlighted in the yellow area. However, this support level might have weakened as the price tested and dropped below it. The strong support area, where we could expect the price to hold, appears just below the yellow box in the blue box.

Will a Formation be Created?

Aptos (APT)

When looking at the daily chart of APT, the possibility of a cup and handle formation comes to mind. The past strength of the $11 resistance level, which is also the resistance level of the formation, supports the formation if it occurs. If the price experiences a pullback along the drawn channel and manages to break the $11 level with a reaction from the blue zone, the formation’s target is set at the $17.5 level.

 


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