Aptos (APT) is showing strong signs of bullish momentum, according to an analysis by crypto analyst Alex Clay. With the APT/USDT pair approaching a key resistance level, Clay’s technical outlook suggests that the token may be poised for a significant breakout.
Moreover, his analysis highlights several key factors that could drive Aptos towards higher price targets in the coming months. Alex Clay points out that Aptos has been in an accumulation phase for the past 707 days, a period marked by steady buying activity.
During this time, Aptos has consistently formed higher lows, signaling increasing demand and reducing the likelihood of a steep downturn. This long accumulation period often sets the stage for a strong upward price movement.
The higher lows structure reinforces the overall bullish trend, as it shows that buyers are stepping in at increasingly higher price points. This pattern often indicates that the asset is building momentum for a potential breakout.
What you'll learn 👉
Fibonacci Levels and Key Resistance
Clay’s analysis’s emphasis on the 0.382 Fibonacci retracement level is one of its main components. This region, which is a critical resistance level, is where the price of Aptos is hovering about. A breach of this level would portend a more solid bullish reversal and allow for additional gains.
Technical analysts utilize Fibonacci retracement levels to identify probable reversal points. In particular, the 0.382 level is a key indicator of whether prices are likely to continue in a bullish or negative manner.
Cup and Handle Pattern Formation
Clay’s chart also highlights the development of a Cup and Handle pattern, which typically suggests a continuation of the existing bullish trend. This classic formation appears when a rounded bottom is followed by a smaller consolidation, known as the handle.
If Aptos can break out of this pattern, it could trigger a price surge. According to Clay, if Aptos moves beyond this resistance, the next target could be $16.60, followed by longer-term targets of $31.10 and $48.25.
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Bullish Projections and Trendline Support
The ongoing uptrend is supported by a strong ascending trendline, which continues to act as dynamic support for the token. As long as Aptos holds above this trendline, the bullish outlook remains intact.
The projected targets outlined by Clay align with this pattern, offering mid-term and long-term price goals based on current market conditions. Aptos is positioned for a potential rally if it can break key resistance levels.
Based on Clay’s analysis, the accumulation phase and the higher lows structure suggest growing demand. A successful breakout could see APT move toward the projected price targets.
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