Aptos price chart pattern points to a 42% jump

As a seasoned researcher who has been navigating the cryptocurrency landscape since its early days, I can confidently say that Aptos (APT) is a project worth keeping an eye on. The strong rally it’s experiencing, coupled with the surge in developer interest and growing market share in DeFi and DEX industries, paints a promising picture for this Layer-2 network.

Over the past four months, the rapidly expanding Layer-2 network, Aptos, has seen significant growth. Technically speaking, it seems poised for a possible increase of approximately 120%.

On December 12th, the value of APT rose to $13.60, representing a significant surge of approximately 215% compared to its record low point in August this year.

The recovery took place when Bitcoin (BTC) and other alternative coins displayed substantial increases in value. It seems that Bitcoin has established a robust base price of around $100,000, while the Altcoin Season Index exceeded 70 points. During strong upward trends of Bitcoin, altcoins like Aptos typically perform well, as investors tend to look for less expensive options.

Data also indicates growing developer interest in Aptos. Its total value locked (TVL) in the decentralized finance industry has surged to over $1.245 billion, up from $121 million in January. 

Notable participants within the Aptos Decentralized Finance (DeFi) landscape encompass applications such as Aries Markets, Amnis Finance, Echelon Market, and Cellana Finance.

Additionally, Aptos has accumulated $321 million in stablecoins, a figure that continues to grow.

Aptos has been steadily increasing its presence within the decentralized exchange market. The protocols in its ecosystem have processed a total volume of approximately $10.2 billion since they were launched. Moreover, its DEX volume climbed by around 26% to surpass $349 million in the past week, placing it among the top 13 players within this sector.

According to cryptocurrency analysts, Aptos still has potential for growth, often being likened to Sui (SUI). Currently, Sui is valued at approximately $13.8 billion. In a recent post on X, Man of Bitcoin forecasted that Aptos will rapidly increase to around $16.30 in the near future.

Aptos price has more upside

Each day’s graph underscores an impressive surge for APT, starting from its dip to $4.30 in August. Over this timeframe, the value has persistently trended upwards, showing a pattern of successive peak highs and trough lows.

Aptos has shown a “pullback and retest” behavior, dipping to around $10.40, which coincides with its highest point on April 21 and the 38.2% Fibonacci retracement point.

As an analyst, I’m observing that the price of Aptos appears to be shaping up as a “cup and handle” pattern, a bullish formation with a rounded bottom. The top edge of this cup is currently at around $19.30. If this trend persists, it suggests that Aptos could potentially touch this upper edge, which would represent a 42% increase from its current price level. Furthermore, by measuring the depth of the cup, we estimate that the price of Aptos might even climb further, potentially reaching around $27 in the future.

Read More

2024-12-12 18:14