Aptos (APT) Nears Critical Juncture as Bearish Pressure Intensifies

In the past 24 hours, Aptos [APT] has suffered a significant drop of 6.61%, ranking it among the day's top losers

Aptos [APT] has had a rough 24 hours, ranking among the day’s top losers with a 6.61% drop, according to CoinMarketCap data.

This downturn continues a bearish trend for APT, which has seen consistent sell-offs and a 10.05% decline over the past week. At this critical juncture, either APT could recover from recent losses or extend its downtrend. AMBCrypto’s analysis provides further insights into potential outcomes for the asset.

Key levels to watch out for APT

Reaching a critical point on the chart that could determine whether it rebounds or declines further, APT has a key support level at $8.09.

Usually, a support level should attract enough buying pressure to trigger a price recovery, although this isn’t always guaranteed. A bounce from here could drive the price back into a nearby supply zone before any cooling off.

If APT fails to hold this level, the next downside target is $7.23. Continued market interest decline could then lead to another drop toward $6.42 or even lower to $6.04.

Source: Trading View

APT on the edge as bearish pressure intensifies

On-chain data from Coinglass reveals that APT may be nearing a significant downturn as intensified sell-off activity pressures its price downward.

Liquidation data — which gauges market direction by analyzing losses from long and short positions — indicates a prevailing bearish sentiment.

Over the last 24 hours, the market has seen $1.65 million in liquidations, with a staggering $1.45 million from long positions, suggesting that traders expecting a price rally were caught off guard.

In contrast, short liquidations amounted to just $202,370, pointing to the dominance of bearish pressure.

Source: Coinglass

Declining Open Interest also signals a potential fall for APT. After peaking at $259.04 million on October 14, Open Interest has dropped to $168.96 million, reflecting waning buying interest.

Open Interest measures the number of active, unsettled derivatives contracts in the market. A sharp drop often suggests a rise in short positions as traders increasingly anticipate further declines for APT.

Demand for APT declines as Exchange Netflow rises

Weakening market confidence is contributing to APT’s current price decline, as evidenced by an increase in Exchange Netflow over the past 12 hours.

Read Aptos’ [APT] Price Prediction 2024–2025

Exchange Netflow measures the inflow and outflow of a cryptocurrency from exchanges. A positive Netflow suggests increased inflows, often signaling potential price drops as more tokens are available for sale.

On the other hand, a negative Netflow indicates outflows, typically a bullish signal as supply on exchanges decreases. With APT’s positive Netflow, a further decline may be on the horizon.

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