Aptos (APT) Price Rallies 215% in Four Months, Targets $27 as Technical Indicators Flash Bullish Signals

Aptos (APT) reached $13.60 on Dec. 12, marking a 215% increase from its lowest level in August this year.

Aptos (APT), a fast-growing Layer-2 network, has seen a remarkable rally over the past four months, and technical indicators suggest the coin has the potential to surge by 120%.

Aptos price action analysis

On Dec. 12, Aptos price hit $13.60, marking a 215% gain from its lowest point in August this year.

This recovery coincides with substantial rallies in Bitcoin (BTC) and other altcoins. Bitcoin price appears to have established a strong floor at $100,000, while the Altcoin Season Index has risen above 70. During strong Bitcoin uptrends, altcoins like Aptos tend to perform exceptionally well as investors seek cheaper alternatives.

Aptos development activity heats up

Aptos has also seen increasing interest from developers. In the decentralized finance (DeFi) industry, its total value locked (TVL) has risen to over $1.245 billion, up from $121 million in January.

Aries Markets, Amnis Finance, Echelon Market, and Cellana Finance are some of the key players in the Aptos DeFi ecosystem.

Additionally, Aptos has attracted $321 million in stablecoins, a figure that continues to grow.

Aptos gains market share in DEX volume

In the decentralized exchange (DEX) industry, Aptos is also gaining market share. Since launching, DEX protocols in its ecosystem have processed over $10.2 billion in volume.

Over the last seven days, its DEX volume increased by 26% to over $349 million, making it the 13th largest player in the space.

According to crypto analysts, Aptos has a lot more room to grow, especially when compared to Sui (SUI), another coin that has grown to become a $13.8 billion coin. In an X post, Man of Bitcoin predicted that Aptos will quickly jump to $16.30.

Aptos price has more upside

On the daily chart, we can observe a strong rally for APT since bottoming out at $4.30 in August, with the price continuously forming higher highs and higher lows during this period.

Aptos has also formed a “break and retest” pattern, pulling back to $10.40, which coincides with the 21 April swing high and the 38.2% Fibonacci retracement level.

Furthermore, the price is slowly forming a “cup and handle” pattern, a bullish setup that is characterized by a rounded bottom. The upper edge of the cup is at $19.30. If this pattern continues to play out, Aptos is likely to reach the upper edge, which would be a 42% increase from the current level. By measuring the depth of the cup, analysts can estimate that the Aptos price could later rise to $27.