APT breaks free from consolidation, but can it sustain momentum? | Credit: Hameem Sarwar
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Key Takeaways
Aptos price climbed by 12%, breaking out of a falling wedge pattern on the daily chart.
The altcoin’s volume has exceeded $500 million and could strengthen the recent upswing.
APT is experiencing buying pressure and bullish momentum, signaling an extended rally.
As CCN analysis rightly predicted in January, Aptos (APT) ‘s price corrected to below $6. This price action followed the broader market decline, and many other cryptos suffered a similar fate.
However, APT has finally broken free from its month-long downtrend. In the last 24 hours, the altcoin’s value has climbed by 12% while changing hands at $6.68.
If the token clears key resistance levels, technical indicators and on-chain metrics suggest it could be in line for an extended surge. Will this breakout hold, or is another rejection an option?
Aptos’s price decline occurred because a bearish flag formed after the price surpassed $13 in December. However, this technical pattern is no longer dominant on the daily chart.
Instead, the chart shows that APT’s downtrend since the beginning of the month led to the formation of a falling wedge. A falling wedge is a pattern defined by two descending trendlines—one tracking lower highs and the other representing the lower lows.
As seen below, Aptos’s price seemed to have made its last downward move after hitting $5.70. As a result, it has now broken out of the wedge’s upper trendline, which represents the lower highs.
This breakout confirms the bullish trend, indicating that the price might continue to trade higher. Furthermore, the Money Flow Index (MFI) has risen above the neutral line, indicating that buying pressure has increased.
Should this trend continue, then APT’s price will likely add to its recent gains.
Rising Volume Backs the Uptrend
The on-chain analysis also supports this position as the cryptocurrency’s volume surged lately. According to Santiment, Aptos volume, which was lower than $100 million on Feb.16, has skyrocketed above $500 million.
This surge suggests increased market interaction with the altcoin. From a price perspective, if the trading volume continues to rise alongside APT’s uptrend, it could signal further gains and reinforce the aforementioned bullish outlook.
Analysis of the 4-hour chart also seems to agree with this thesis. During this timeframe, the Aptos price broke out of the range-bound movement between $5.43 and $6.33.
Furthermore, the reading of the Relative Strength Index (RSI) has increased, but it has not reached the overbought region. This indicates that the momentum around APT is bullish, and a notable pullback might be unlikely.
Considering this trend, the altcoin’s value might break above the resistance between $6.59 and $8.62. If validated, this might lead to a 50% hike that would send Aptos’ price to $9.87.
Alternatively, if APT fails to rise above the $7.22 resistance, this prediction might not come to pass.
Instead, the token’s bullish trend might be invalidated, and APT might decline to $5.70. In a highly bearish case, it could drop to $4.56.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
