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The Aptos price surged 8% in the last 24 hours to trade at $5.16 as of 1:36 a.m. EST on trading volume that skyrocketed 41% to $434 million.
The rise in the APT price comes as Bitwise amended its proposed Dogecoin and Aptos exchange-traded funds (ETFs) to include in-kind redemptions.
Meanwhile, discussions around ETFs and redemption structures are gaining traction with US regulators.
In-kind redemptions enable investors to exchange ETF shares directly for the underlying tokens, offering a more tax-efficient mechanism. This structure appeals to a broad range of investors, from institutional to retail.
Aptos Price Breakout From Falling Wedge Signals Potential Upside
The APT price has recently shown signs of a bullish reversal after a prolonged downtrend. Aptos price action formed a well-defined falling wedge pattern, typically considered a bullish reversal setup.
The breakout from the falling wedge appears to have occurred near the $4.80 range, with the current Aptos price around $5.16, as GeckoTerminal data shows.
That breakout is accompanied by increased bullish momentum, as highlighted by the recent price movement beyond the wedge’s upper boundary.
Meanwhile, the 50 Simple Moving Average (SMA) on the 3-day chart is currently at $5.29, just above the current price of Aptos, serving as the immediate resistance. A clean break above this level could solidify the bullish breakout. The 200 SMA is situated around $8.22, reinforcing the idea that this could be a major target zone if upward momentum continues.
The Relative Strength Index (RSI) is hovering around 51.22, which is neutral but leaning slightly bullish. This positioning indicates that the market is no longer in oversold territory and has room for upward movement.
Moreover, the Moving Average Convergence Divergence (MACD) line has crossed above the signal line, albeit modestly, with the histogram showing a small but positive reading.
That crossover supports the bullish case, particularly as it aligns with the falling wedge breakout and potential price momentum shift.
APT Price Prediction
Based on the breakout from the falling wedge pattern and the supportive signals from the RSI and MACD, Aptos could be entering a new bullish phase.
The technical target places a price objective near $8.20 and the 200 SMA, marking a potential gain of over 60% from the breakout level. However, for this move to materialize, the price of Aptos must hold above the $5.00–$5.30 zone and ideally see increasing momentum to challenge higher resistance levels.
On the flip side, if the bears regain control, the price of APT could plunge back to the lower boundary of the wedge around $3.62.
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