Aptos Price Targets Indicate 56% Upside Potential with Bullish Reversal Pattern

The Aptos price has confirmed a bullish reversal pattern, fueled by new partnerships within its ecosystem.

According to the latest data from crypto.news, Aptos (APT) was trading at $5.12 on October 3rd (Asian time). It has risen by 5% in the last 24 hours and 30% over the last week.

The daily trading volume for the token approached nearly $1.2 billion today, which is nearly double what was recorded at the beginning of the week, demonstrating strong demand from traders.

Investors are also showing notable interest in the derivatives market. Data from DeFiLlama indicates that open interest in APT futures jumped from $323 million to over $436 million, while the weighted funding rate has turned positive. These developments suggest that more traders are opening long positions, remaining optimistic about the token’s future.

Several factors have contributed to the recent gains of the token.

For starters, Aptos has recently formed a partnership with World Liberty Financial (WLFI) to introduce the USD1 stablecoin to its blockchain, which is set for launch on October 6.

As the sixth-largest stablecoin by market capitalization, valued at approximately $2.7 billion, the rollout of USD1 is expected to significantly enhance Aptos’ presence in the DeFi sector, attracting more trading, lending, and liquidity activity to its platform.

Additionally, Backpack, a multichain wallet and application platform, has added native support for Aptos. This update may encourage greater adoption by reducing barriers for new users.

Meanwhile, data from DeFiLlama shows rapid growth in Aptos-based DeFi protocols, with the total value locked on the Aptos blockchain rising from $28 billion in April to over $75 billion now. The supply of stablecoins on the network has also increased by 5% in the past week, totaling $1.09 billion.

This rise in TVL, combined with an increasing supply of stablecoins on Aptos, signals that users are not merely parking assets temporarily but are actively participating in the network’s lending protocols, liquidity pools, and decentralized exchanges.

Finally, the broader market rally, which aligns with October’s historical trend of being a bullish month for Bitcoin and the crypto market, has alleviated any bearish sentiment.

At the time of writing, the crypto Fear and Greed Index has shifted into greed territory, improving from a fear status just a week earlier.

On the daily chart, Aptos has successfully broken through a multi-month descending triangle pattern, featuring a flat lower trendline acting as support and a descending upper trendline acting as resistance. This breakout indicates a bullish reversal as momentum shifts in favor of buyers.

Today, the Aptos price has surpassed the upper trendline and successfully retested it as support, reinforcing the bullish sentiment among traders.

The Supertrend indicator has also shown a green light as it remains below the price level. Moreover, the MACD line has crossed above the signal line, with both indicators trending upwards.

Given these promising technical indicators, the next price target for APT is projected at $8.20, derived by adding the height of the triangle pattern to the breakout price point. This target suggests a potential increase of 56% from current levels.

A drop below $5 would invalidate this setup and could lead to renewed selling pressure from bears, exposing the token to further downside risks.