Key Takeaways
Why did Aptos fall 27%? 🌧️
Ah, the fickle hand of fate! $6.5 million in short liquidations and a buying pressure as feeble as a Tolstoy protagonist’s resolve dragged APT below the $3 support. Alas, the market weeps. 😢
What could trigger recovery for APT? 🌞
Should the stars align-sustained activity above 1.7 million Active Addresses and a breakout past $3-APT might ascend to $4. But hope, like a Russian winter, is both cruel and fleeting. ❄️
Aptos [APT], that ambitious young soul, extended its monthly decline to nearly 27%, even as its on-chain activity surged. The network roared like a lion, yet the price stumbled like a drunk at a ball. 🦁🍷
Aptos Network Roars, Price Stumbles 🤦♂️
The number of monthly Active Addresses on the Aptos blockchain surged by more than 2x, from a modest 750K to a staggering 1.8 million, stabilizing around 1.7 million. Perpetual trading, too, jumped 62% in a week, according to DefiLlama-a testament to human folly and greed. 📈
Yet, this frenzied activity failed to lift the token’s price. Aptos’ Total Value Locked (TVL) hovered near $1 billion, a shadow of its former glory. Oh, the irony of man’s endeavors! 😏
Why is APT Price Action Weak? 😴
APT, like a leaf in the wind, mirrored the wider market’s weakness following the $2.10 billion liquidation cascade that dragged Bitcoin [BTC] down sharply. The token broke below a descending wedge at the start of November, confirming the bear’s dominion. 🐻
From a technical view, APT dropped from $3.06 to $2.60, a 27.6% slide. The CVD stayed mildly positive at $227.43K, hinting at buying pressure as weak as a tepid cup of tea. 🍵
Meanwhile, the MACD suggested seller momentum was fading, though both sides remained as muted as a Tolstoy family dinner. 🍽️
If APT regains the $3 level, a pause in the decline might follow. A breakout above $4 could flip sentiment-but until then, the token remains trapped in a downward spiral, like a character in Anna Karenina. 🚂
The volume of sales in the Derivatives market revealed the source of the decline. More than $6.54 million in leveraged shorts were placed across all APT/USD pairs, a testament to human hubris. This sell pressure was countered by $3.81 million in cumulative longs, a mere fraction of the shorts. 📉
The largest cumulative short liquidation leverage was on Binance, accounting for $1.56 million at $2.79. Ah, Binance-the grand stage where fortunes are made and lost! 🎭
Liquidity Traps Above $2.8 🕳️
A concentration of liquidity was seen at the upper side of the most recent price action, according to the Liquidation Heatmap. The $2.80 zone contributed to this concentration, with cumulative orders exceeding $1 million. The price, like a moth to a flame, is drawn to liquidity. 🦋
The regions below $2.60 were less concentrated, suggesting a short-term pause before further breakdown. Oh, the drama of it all! 🎭
In conclusion, APT’s price action is as weak as a Tolstoy character’s resolve, with faint signs of buyers emerging. Yet, the market remains bearish until resistance levels are turned into supports. Until then, we wait, like characters in a novel, for the plot to thicken. 📖
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2025-11-06 02:40