Date: Sat, Sept 21, 2024, 10:37 AM GMT
Aptos ($APT), the leading Layer-1 blockchain project, is gaining attention in the cryptocurrency market after a 6.43% price surge over the past 24 hours. This comes as a result of a broader market rally, driven by the recent Federal Reserve rate cut, which has pushed altcoin prices higher. Aptos, in particular, has benefited from positive news out of the Token2049 event in Singapore on September 20, where the Aptos Foundation announced a major partnership with Ignition AI Accelerator.
Technical Analysis: Bullish Signals for $APT
According to crypto analyst @CryptoBull_360, Aptos is showing signs of a potential breakout from a triple bottom pattern. This technical formation, along with horizontal resistance zones on the daily time frame, suggests that $APT is preparing for a major rally.
The price is currently testing the 50-day Exponential Moving Average (EMA), which analysts believe is about to break. A strong flip off this level could lead to a massive rally of 140%-150%.
Retesting Following Breakout
As per our analysis, $APT has already broken through a key resistance level at $7.50 and is currently retesting the breakout level. If the token successfully pulls back from this level with continued bullish momentum, the next target would be $9.30—a 20% increase from the current price. This bullish setup has traders eagerly watching Aptos for further gains.
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