As the cryptocurrency market enters the new year with strong bullish momentum, altcoins have been gaining significant attention. This surge has been largely driven by Bitcoin's ($BTC ) impressive rally, which rose from a December 31 low of $92K to near $102K. Among the altcoins gaining traction is Aptos ($APT ), which has posted over 17% gains over the past seven days, currently trading at $10.21

Aptos' Bullish Momentum Mirrors Sui’s Recent Price Action

Prominent chart analyst has noted striking similarities between Aptos’ current price action and the recent bullish rally of Sui (SUI). Over the past two months, Sui has experienced an impressive surge of nearly 120%, leading analysts to suggest that Aptos may be on the verge of a similar breakout.

Key Analysis Highlights

1. Double Bottom Formation:

Aptos has formed a classic double bottom pattern, similar to Sui’s earlier price action. This pattern is often considered a strong bullish signal, indicating the potential end of a downtrend and the possibility of upward momentum.

2. Descending Resistance Breakout:

Aptos is approaching a significant descending resistance level, akin to the one Sui faced prior to its explosive rally. Analysts believe that a decisive breakout above this resistance could lead to a parabolic price movement.

3. Bullish Price Targets:

Following a potential breakout, Aptos could enter a strong bullish cycle, with price targets potentially reaching $20, $30, and even $40. This mirrors Sui’s trajectory, where the price surged considerably after breaking through key resistance levels.

Chart Insights

The $SUI /USDT chart on the left shows Sui’s remarkable rally from its double bottom pattern, breaking through ascending resistance and pushing past the $5 mark. On the right, the APT/USDT chart illustrates Aptos’ similar structure, with a double bottom formation and the price now testing descending resistance near $10.

If the historical trend is any indication, Aptos could experience a sharp rally similar to Sui's recent performance, offering traders an opportunity to capitalize on this bullish setup.

Conclusion

With Aptos currently following a price action structure similar to that of Sui’s recent rally, analysts are optimistic about its potential for significant growth. If Aptos breaks through its key resistance levels, it could see a substantial increase, potentially mirroring the success that Sui has experienced.

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