Aptos (APT) is showing signs of a potential breakout after bouncing from a crucial support zone. The digital asset has been trading within a falling wedge pattern on the weekly timeframe, a formation that historically signals a bullish reversal. Analysts suggest that APT’s recent movement could be the beginning of a trend shift toward higher price targets.
Aptos Holds Firm at Key Support
APT has successfully defended its support zone, ranging between $4.61 and $6.00, preventing further downside movement. Crypto analyst Rose has highlighted a descending wedge pattern, indicating a probable upside breakout. Historically, falling wedge formations have preceded significant bullish rallies, making this a pivotal moment for Aptos investors.
A confirmed breakout from this pattern could propel APT toward key resistance levels. The first major target stands at $10.19, a level that has previously acted as a strong barrier. If the bullish momentum persists, Aptos may aim for the next resistance at $16.03, marking a substantial gain from current levels. However, traders should also consider the downside risk, with the invalidation zone set at $3.54.
Strengthening Market Indicators
Market indicators reflect a growing bullish sentiment around APT. Increased buying interest, combined with a rise in trading volume, suggests that investors are positioning themselves ahead of a potential price surge. If trading volume continues to build, the likelihood of Aptos achieving its projected price targets will strengthen.
According to CoinMarketCap data, APT is currently trading at $6.15, reflecting a 4.23% gain in the last 24 hours. Its market cap has risen to $3.6 billion, an increase of 6.26%. Additionally, 24-hour trading volume has surged by 9.79% to $259.61 million, highlighting growing market activity. The fully diluted valuation of Aptos stands at $7.02 billion, with a circulating supply of 586.52 million APT.
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As Aptos continues to hold its key support level, investors are closely watching for a confirmed breakout. With price targets set at $10.19 and $16.03, APT could be on the verge of a significant upward move, provided bullish momentum remains intact.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
