Aptos Altcoin APT Surges 11%: Bullish Flag Pattern Signals Breakout
1min read Aptos, a promising blockchain project, has garnered significant attention from investors due to its remarkable network adoption and growth. The altcoin, APT, has been consolidating within a bullish flag pattern, signaling a potential breakout and price uptrend. At the time of writing, APT was trading at $5.44, with an 11.22% price surge and a 29.91% increase in trading volume over the last 24 hours, indicating heightened network activity.
Technical analysis suggests that APT could break out above the $18-$20 key resistance zone, potentially pushing the altcoin up to $30 in the mid-term and even higher, up to $34, according to an analysis by Solberg Invest on X (formerly Twitter). This bullish outlook is supported by APT's market sentiment and the network's on-chain growth, which has seen a 10x surge in active accounts within the last year, from 1.6M to 15.8M, as reported by Aptos Nerd.
The bullish momentum for APT is further confirmed by various indicators. The altcoin's 24-hour Relative Strength Index (RSI) stood at 42 and rose gradually to 58 in the 4-hour timeframe, based on Cryptowaves data. Additionally, the long-to-short ratio of 2.79 suggests that investors have been buying APT in the last 24 hours, as evidenced by its surging trading volume. Furthermore, Aptos' Open interest in major exchanges has increased by 18.47%.
Aptos' utility-driven ecosystem and promising future have boosted investor confidence in recent months. As a result, the uptrend could lead to a breakout above the $18 key resistance. If the bullish momentum holds, Aptos could rally to $30 and above. However, if the altcoin fails to break above this key resistance level, it could retest its support zone within the flag, waiting for another attempt in the next few weeks.
