The Aptos cryptocurrency is proving resilient in the crypto markets, above the $15 and $14.57 support levels. This is despite the unlock of an estimated $69 million worth of Aptos in less than a week.
$69 Million in Aptos Will Be Unlocked on February 12th
According to data from Token Unlocks, 4.54 million Aptos (APT) tokens worth an estimated $69 million will be unlocked on February 12th, which is four days and fifteen hours away.
Aptos tokens are to be unlocked. Source, Token.unlocks.app
Aptos (APT) Maintains a Level Above $15
However, despite the $69 million value of the Aptos tokens to be unlocked, the amount represents only 0.454% of the digital asset’s total supply. Therefore, if the tokens are sold en masse after the unlock, the price of Aptos could survive the dump.
Further looking at the 6-hour APT/USDT chart below courtesy of Tradingview.com, it can be observed that Aptos continues to range between the $20 resistance and the $14.578 support. Aptos has also formed what looks like a bull flag (blue), hinting that the digital asset still has some bullish momentum despite the possible selling event resulting from the token unlock.
In addition, Aptos’ 6-hour MFI (green), MACD, and RSI (red) all hint at an oversold scenario that could result in a bounce by the digital asset in the hours or days ahead.
However, caution is advised when attempting to go long on Aptos given Bitcoin‘s apparent weakness in the crypto markets.
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