Aptos (APT) Price Prediction: APT Shows A Potential Breakout Might Be On The Horizon

The Aptos price soared 17% in the last 24 hours to trade at $6.72 as of 12:38 a.m. EST on trading volume that skyrocketed 129% to $529 million.

The Aptos price soared 17% in the last 24 hours to trade at $6.72 as of 12:38 a.m. EST on trading volume that skyrocketed 129% to $529 million.

This rise in the APT price comes as the cryptocurrency market rebounded 1% to a $3.3 trillion market capitalization, according to Coingecko, with top tokens BTC and ETH registering respective 24-hour gains of 2% and over 1%.

Aptos Price Shows A Potential Breakout Might Be On The Horizon

The APT price has been in a downtrend since its peak in December, forming a descending wedge pattern.

The Aptos price recently tested a key support level near $6.53 and showed a strong bounce, indicating potential buying interest at this level. Currently, APT is attempting to break out of the wedge, a move that could signal a trend reversal.

A clear resistance level is marked around $14.89, a zone where previous price action faced rejection, according to GeckoTerminal data. 

The 50-day Simple Moving Average (SMA) is at $7.71, acting as an immediate resistance level. A sustained move above this level could confirm bullish momentum.

Additionally, the 200-day SMA is at $8.82, a critical resistance that must be surpassed for a strong uptrend to develop.

The Relative Strength Index (RSI) is at 50.92, hovering around the neutral level. This suggests that the price of APT is neither overbought nor oversold, providing room for further upside if bullish momentum strengthens.

Meanwhile, the Moving Average Convergence Divergence (MACD) blue line is crossing above the orange signal line, an early indication of a potential bullish reversal. If this trend continues, it could reinforce a breakout scenario.

APT Price Prediction

The APT price is currently at a critical juncture. If the breakout from the descending wedge is confirmed and the Aptos price moves above the $7.71 (50-day SMA), it could target $8.82 (200-day SMA) as the next resistance.

A successful breach of this level could then open the door for a rally toward the $14.89 resistance, representing a 169% upside from the current price.

On the downside, if the price of Aptos fails to sustain its breakout and falls back into the descending wedge, the $5.53 support level will be crucial. A break below this level could extend the bearish trend toward lower levels.

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