Aptos Price Rally: Technical Indicators Point to 120% Jump

Aptos, a fast-growing Layer-2 network, has experienced significant growth over the past four months, with technical indicators suggesting a potential 120% increase in its price.

Aptos Price Recovery and Bitcoin’s Influence

Aptos reached $13.60 on December 12, marking a 215% increase from its lowest level in August this year. This recovery coincided with significant rebounds in Bitcoin and other altcoins. Bitcoin appears to have established a strong floor price of $100,000, while the Altcoin Season Index has surpassed 70. Historically, altcoins like Aptos tend to perform well during Bitcoin’s strong uptrends, as investors often seek cheaper alternatives.

Developer Interest and Growing Ecosystem

Data indicates growing developer interest in Aptos, with its total value locked (TVL) in the decentralized finance (DeFi) industry surging to over $1.245 billion, up from $121 million in January. Key players in the Aptos DeFi ecosystem include dApps like Aries Markets, Amnis Finance, Echelon Market, and Cellana Finance. Additionally, Aptos has accumulated $321 million in stablecoins, a figure that continues to grow.

Aptos’ Market Share and DEX Volume

Aptos is gaining market share in the decentralized exchange (DEX) industry. DEX protocols in its ecosystem have handled over $10.2 billion in volume since inception. Its DEX volume rose by 26% to over $349 million in the last seven days, making it the 13th biggest player in the industry.

Analyst Predictions and Price Chart Analysis

Crypto analysts believe that Aptos has room to go, with most of them comparing it with Sui, which has grown into a $13.8 billion coin.

The daily chart highlights a strong rally for Aptos (APT) since bottoming out at $4.30 in August. During this period, the price has consistently formed higher highs and higher lows.

Key Price Patterns and Potential Upside

Aptos has displayed a “break and retest” pattern, pulling back to $10.40, which aligns with its April 21 swing high and the 38.2% Fibonacci retracement level. Moreover, the price is gradually forming a “cup and handle” pattern, a bullish setup characterized by a rounded bottom. The upper edge of the cup is at $19.30. If this pattern continues, Aptos is likely to reach the upper edge, representing a 42% increase from its current level. By measuring the depth of the cup, analysts estimate that the Aptos price could subsequently rise to $27.

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