news 
Aptos Shows Early Signs of Recovery, But Will This Hinder APT’s Upside?
In a recent update, Aptos (APT) has started to show early indications of recovery, with its price forming a confirmed double-bottom pattern. Despite this initial positivity, experts are cautioning that certain factors may hinder the cryptocurrency’s potential for further growth.
Despite a 2.16% increase in value as trading came to a close on Friday, Aptos’ technical indicators and social engagement remain underwhelming. As per TradingView charts, the Parabolic SAR sits at $14.19, indicating that bearish pressure has yet to dissipate entirely. Moreover, both the Williams Alligator and other momentum indicators revealed limited convergence, suggesting APT’s bullish momentum remains fragile.
The data presented by Coinglass further reinforces this sentiment. According to these findings, Aptos’ OI-Weighted Funding Rate displayed a neutral-to-slightly-bullish rate of 0.0094%, hinting at traders’ cautious optimism. However, social dominance remained extremely low at just 0.128%, suggesting limited buzz and engagement around the cryptocurrency.
It is imperative for Aptos to bolster community support and trading activity if it seeks to confirm its recovery and sustain upward momentum in the long run.
Source: ambcrypto.com
