Aptos (APT) Tests $5.45 Support: Can It Break Above $22 for a Major Rally?

• Aptos is holding strong at $5.45, showing steady momentum and demand.
• A breakout above $22.00 can trigger a strong price surge.
• Bullish indications point towards the potential for a long-term rally ahead.

Aptos (APT) is also experiencing considerable price action, trading at $5.45 with a 5.77% increase in seven days. The market capitalization stands at $3.28 billion, reduced slightly by 0.12% in the same period.

Market Data and Liquidity Trends

Aptos’ FDV remains $6.24 billion predicated on its holding of 1.14 billion APT tokens. Circulating supply remains at 602.74 million APT, which is already being traded in the market. The maximum supply of the asset remains uncapped without any pre-determined issuance limit.

Source: CoinMarketCap

Market capitalization is fluctuating, with a valuation between around $3.10 billion and a high of $3.40 billion. The price time frame displays ongoing highs and lows, with intense buying and selling pressure. The ratio of trading volume to market capitalization is 3.12%, a moderate-level market activity.

The Aptos price has continued to trade at the $5.30 to $5.60 level, consolidating a consolidation period. Such short-term fluctuations are consecutive tests of the support and resistance levels . Reductions in volatility follow such minor corrections, indicating temporary retracements in trading sessions.

Technical Analysis and Market Trends

CryptoElites has a new analysis revealing an inverse head and shoulders pattern in the time frame. He noted that Aptos has been sustaining an ascending trendline while forming higher lows, signifying long-term bullish momentum . He also noted strong resistance at $22.00, where price rejection has occurred multiple times.

He also noted that previous tests of this resistance led to sharp declines, reconfirming the robustness of this level. He noted that previous price action shows an accumulation pattern with a previous peak at approximately $22.00 and a bottom at $1.17. He noted that the price has stabilized at approximately $5.52, suggesting a phase of consolidation.

Source: CryptoElites

CryptoElites also reminded us that a breakout above $22.00 could trigger a rapid price appreciation. He noted that previous breakouts of the same structures have resulted in parabolic movements. He added that further accumulation at current prices might precede a big move to the upside.

Based on CryptoElites’ analysis, the chart indicates a potential dash to $100.00 after breaking resistance. He observed that extended accumulation periods lead to huge price surges. He indicated that strong support along the ascending trendline guarantees a long-term bullish trend.