Aptos (APT/USDT) has shown a noticeable bullish move for the last few days, currently trading at $12.02.
A further note on technical analysis is that after the recent price rise, APT might see a period of correction before it moves higher, after breaking through the upper Bollinger Band resistance level.
Meanwhile, financial firms like BlockRock and Bitwise have shown interest in APT. With institutional interest growing, APT credibility and liquidity are likely to increase in both institutional and retail markets.
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Bollinger Bands Indicate Potential Consolidation for Aptos
The Bollinger Band on APT’s 1-day chart shows that APT recently managed to break out of its resistance at $12.88 which is the upper Bollinger Band.
A strong bullish move was later seen as the bulls had full control of the market at that trading session.
In addition to a bullish trend a break above the upper Bollinger Band can also signal that the market is currently overbought and a bearish market reversal as traders tend to take in profits
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This market pullback could see APT consolidate around the middle Bollinger Band at $9.96 which would act as an immediate support zone if the price is going to retreat up to that level.
But should APT retest above $12.88 with heavy volume, the asset may then rise to new high levels.
RSI Reflects Moderate Bullish Momentum
APT’s Relative Strength Index (RSI) is currently at 61.67 suggesting that the bulls are in control of the market.
It also shows that APT has more room for Bullish signals before reaching overbought territory at 70 where traders tend to take in profits.
Fibonacci Support Levels and Analyst Targets
Aptos’s recent price action has drawn attention to its 0.5 Fibonacci retracement level at $11.83, which currently serves as a critical support point.
Market analyst Willyjayducks explained that this level was crucial, stating that a daily close above it would likely ensure an extended trend upwards to the next Fibonacci level of $13.60 (0.618 retracements).
Nevertheless, if APT fails to hold above the 0.5 Fib level it may re-visit the 0.382 at $10.05, and as such the sentiment may turn bearish.
Another analyst, dapanji_eth, has set a long-term target of $50 per APT, citing the recent influx of institutional involvement in the Aptos ecosystem.
Major firms like BlackRock and Bitwise have introduced products on Aptos, with BlackRock’s BUIDL fund including Aptos as the only non-EVM (Ethereum Virtual Machine) chain.
The market analyst dapanji_eth says that as Apto adaptability continues to rise, so too is APT going to rise in the process.
Institutional Adoption as a Growth Catalyst For Aptos
Institutional investors have started adopting Aptos with much potential and credibility to enhance its utility in the market.
BlackRock’s recent actions highlight Aptos’s potential as a non-EVM blockchain for institutional investment.
In addition, Bitwise has introduced an Aptos Exchange-Traded Product (ETP), simplifying investor access to APT.
More tech giants like Google, Microsoft, and financial firms such as Franklin Templeton are partnering with Aptos. This has led to Aptos growing its reputation as a high-performance blockchain.
An analyst shared on X (formerly Twitter) that Aptos’s current valuation remains a fraction of comparable projects like Solana and Sui, suggesting significant upside potential.
