Key Takeaways
- APT rebounded 12% after falling to a yearly low of $4.31, now acting as a strong horizontal support zone.
- A potential bullish reversal is underway, backed by a positive BBP reading and CMF rising above zero.
- The inverse head-and-shoulders pattern could lead APT higher as long as it holds above the $5.25 neckline.
Aptos (APT) bulls have refused to relent in their bid to keep the cryptocurrency trading above key support levels. On April 7, the Aptos coin price declined to $4.31, a yearly low now acting as a horizontal support.
But despite falling to the floor, the cryptocurrency’s value has increased by 12% within the past week. This price increase has helped APT break above the overhead resistance amid rising bullish momentum.
Here is what could be next for APT’s price with bears currently out of the picture.
Aptos Bulls Prevent Correction
For much of the year, APT’s price struggled. This underwhelming performance ensured that the altcoin’s value tumbled from $10 in January to $4 earlier this month.
This decline also resulted in a descending triangle with the Aptos coin price hitting lower highs. A look at the daily chart also shows horizontal support near $4.31.
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APT appeared on the verge of slipping below the crucial support a few days ago. However, bulls quickly stepped in, signaling they were not ready to give up control.
This resilient defense prevented a potential breakdown and could mark the beginning of a short-term reversal. As seen below, the Bull Bear Power (BBP) reading is in the positive region, indicating that buyers are still dominant.
Likewise, the Chaikin Money Flow (CMF), which measures the buying and selling pressure level, has also climbed above the zero signal line.
Should this trend continue, APT’s price could climb above the resistance levels at $6.03 and $7.81.
Number of Transactions Rises
Amid a brighter price outlook, the Aptos blockchain is enjoying a surge in on-chain activity. The team behind the project revealed a notable rise in transactions and wallet creations, just a week after becoming the official digital wallet provider for Expo Japan.
Since the partnership launched, Aptos has processed over 500,000 transactions and added over 130,000 new accounts to the network.
“One week in. Six months to go. Aptos is bringing the vibes as the digital wallet of Expo 2025, Japan! 558K+ transactions. 133K+ new accounts. Aptos isn’t just scaling—we’re out to make history,” The project disclosed via its official X (formerly Twitter) handle on April 23.
With Expo Japan expected to run for six months, this might fuel higher demand for APT and possibly reinforce the bullish thesis.
APT Price Analysis – Bullish Pattern Solid
Looking at the daily chart again, CCN observed that the Aptos coin price seems to be forming an inverse head-and-shoulders pattern. The inverse head-and-shoulders pattern is a bullish reversal chart pattern that signals the end of a downtrend and the beginning of a potential uptrend.
To confirm this trend, the cryptocurrency has to break above the neckline. For APT, the neckline sits around $5.25, where it currently hovers.
But with buyers gaining strength and volume rising, the altcoin could extend its bullish streak. If validated, APT’s price might climb to $8.28 at the 0.618 golden ratio.
However, if the cryptocurrency falls below the neckline, this prediction might not pass. Should that be the case, Aptos’s market value could drop below $4.
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.
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