Aptos (APT) has had a decent market performance lately as it is the top gainer in the crypto market today. APT’s price has seen a respectable 11.72% pump over the past day, while its trading volume also saw a 20.18% increase. Per CoinMarketCap’s data, APT is trading at $8.43.
CryptoBull_360 and Shelby (@CryptoNewton) highlight significant technical patterns that suggest a potential upward move for APT’s price. With both analysts identifying key chart formations, the token may be on the verge of a substantial rally.
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Aptos Chart Analysis: Breakout from Inverse Head and Shoulders Pattern
Top analyst CryptoBull_360 on X shared insights on Aptos’ (APT) recent price action. He pointed out a clear breakout from an inverse Head and Shoulders (H&S) pattern, a bullish reversal signal often seen at the end of a downtrend.
However, the pattern’s completion, as reflected on the chart, suggests that APT’s price may be moving toward a new bullish phase. The inverse H&S pattern’s retest of the neckline (previous resistance, now support) has successfully held, further reinforcing the possibility of upward momentum.
#APT gaining bullish traction after breakout & retest from Inverse H&S pattern S/R levels, Recent news might fuel for short term rally, Volume looks good- Keep an eye on$APT #APTUSDT pic.twitter.com/pP1hxSudZf
— CryptoBull_360 (@CryptoBull_360) October 3, 2024
CryptoBull_360 emphasized the key support and resistance (S/R) levels that are critical to APT’s price action. The strong volume accompanying the breakout provides additional validation for a short-term rally, with the next resistance likely in the $9-$10 range.
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Bullish Sentiment from Harmonic Pattern
Shelby, another prominent analyst, also weighed in on Aptos’ price, describing it as one of the “best-looking charts right now.” His analysis focuses on a harmonic ABCD pattern visible on the daily chart, suggesting that APT’s price could reach a higher target of around $13-$14.
Image Source: X/Shelby
Shelby’s APT chart shows the completion of this pattern, which typically signals a reversal or continuation of an uptrend.
The volume at the breakout aligns with this bullish outlook, further indicating potential price growth. A breached red trendline, previously acting as resistance, suggests that momentum may carry APT’s price toward higher levels if buyers maintain control.
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Show more +Show less – Aptos Volume Surge and Short-Term Rally Expectations
Both analysts agree on the role that volume is playing in the current price movement of APT. CryptoBull_360 points to a surge in volume, which supports the recent breakout and retest of support levels. This volume spike suggests that traders are increasingly confident in the short-term bullish trajectory of Aptos.
Shelby’s analysis further reinforces this view, highlighting that a strong breakout with accompanying volume is crucial for confirming the price rally. Both the technical indicators and volume trends are aligned, supporting a potential move toward higher price targets.
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Bullish Outlook Moving Forward
While CryptoBull_360 focuses on the short-term outlook based on S/R levels and the inverse H&S pattern, Shelby takes a longer-term view, emphasizing the potential for APT to hit $13-$14 based on the harmonic pattern.Moreover, both agree that bullish momentum is building, and the recent chart formations could push APT’s price to new highs.
Aptos remains one of the more promising tokens in the current market, with traders closely watching the upcoming price movements. If volume continues to support the breakout, the APT price may see significant gains in the future.
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