Price predictions<\/a> are thus bullish.<\/p>\nAPT\/USD was last changing hands around $5.6, with the cryptocurrency having burst to the north of resistance in the form of the early December highs near $5.50. APT bulls are now eyeing a test of the next major area of resistance $6.70 in the form of the 19th<\/sup> of October low.<\/p>\n<\/p>\n
Price Prediction \u2013 Where Next For APT?<\/strong><\/h2>\nAPT\u2019s recent upside was seemingly triggered by a breakout above a downtrend that had been suppressing the price action going all the way back to when the token first began trading on exchanges back in October. This breakout began earlier this month, but only really gained traction in the last two days amid a broader uptick in cryptocurrency market sentiment, perhaps as traders bet that a weakening US economic outlook will deter the US Federal Reserve from getting too aggressive with its monetary tightening in 2023.<\/p>\n
Either way, APT has been able to hit its first bullish target, the early December high in the $5.50 area. If it can muster a sustained break above this level, which it hasn\u2019t been able to just yet, then that could open the door to a test of resistance at $6.70 then of the record highs in the $10.30 area. That would mark a further 85% rally from current levels.<\/p>\n
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APT Unlock a Headwind?<\/strong><\/h2>\nAPT\u2019s rally comes one day ahead of a major token unlock, which some traders think could be a near-term headwind to further price appreciation. According to TokenUnlocks, only just over 139 million of the total supply of 1 billion APT tokens are currently unlocked, or close to 14%.<\/p>\n
However, in just over one day, another 4.5 million tokens (0.45% of the total supply) will be released, with 3.21 million going to the community and 1.33 million going to the Aptos blockchain foundation. The fear is that this might create selling pressure that could weigh on APT\u2019s near-term price as community members and the foundation cash in.<\/p>\n
In terms of the Aptos token vesting schedule, APT will be gradual released for most of the rest of the year. But the speed of APT \u201cinflation\u201d will increase rapidly in November, when investors and core contributors also start getting their hands on locked tokens.<\/p>\n
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