Following a significant 50% increase in value since the market upturn on October 18, Aptos (APT) is gearing up for a substantial token unlock event scheduled for Sunday. This event will release 24.48 million APT tokens, valued at roughly $181.35 million, into circulation, involving various stakeholders including the foundation, core contributors, investors, and community members.
The impending influx of tokens has the potential to greatly influence Aptos' market price. Analysts are closely monitoring key indicators such as the Relative Strength Index (RSI) and Awesome Oscillator (AO), which currently show a balance of power between optimistic and pessimistic market participants. The outcome of this token release could swing the price in either direction.
Should the unlock lead to increased selling as stakeholders take profits, the price of Aptos could potentially fall to around $7.00 or even to a support level of $6.22 in extreme scenarios. On the flip side, if the market responds with strong buying activity, there's a possibility that Aptos' value could soar past the $8.00 mark and approach its June peak of $9.00.
Investors and market watchers are advised to keep a close eye on Aptos as this significant event unfolds, which may set the tone for its short-term price trajectory in an already volatile cryptocurrency landscape.
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