The Aptos (APT) layer-1 blockchain has successfully penetrated the crucial $5 psychological resistance level for the second time this June, reigniting bullish sentiment as exchange-traded fund (ETF) developments gain momentum.
Following its dramatic decline from $8 in February, APT has remained constrained within a $4.19 – $6.08 trading range, forming double bottoms in April and again on June 22, technical patterns that often signal an impending breakout.
Source: CryptonewsAt the time of writing, APT trades at $4.99, marking a 7% daily increase after briefly touching a session high of $5.297 from an intraday low of $4.68.
This surge has propelled the expanding layer-1 blockchain back above the $3 billion market capitalization threshold, accompanied by a substantial 75.59% increase in trading volume, which has generated over $447 million in APT transactions within the past 24 hours.
Bitwise Files for First-Ever Aptos ETF—Wall Street Coming?
The positive momentum follows a significant regulatory development on June 26, when the U.S. Securities and Exchange Commission (SEC) provided updates suggesting the potential debut of an Aptos ETF, stemming from Bitwise Investment’s S-1 amendment filing to list such a product.
Bloomberg analyst Eric Balchunas highlighted that the key advancement in the amendment involves the inclusion of “in-kind” creation and redemption mechanisms, a feature absent from the initial March filing.
Beyond ETF prospects, the Aptos ecosystem has experienced notable expansion with the recent launch of Shelby, a decentralized storage protocol that has contributed to the network’s growing adoption.
Shelby has enhanced the Real World Asset (RWA) capabilities of the Aptos blockchain, positioning it as a cloud-grade, Web3-native storage solution that competes with established platforms like Arweave and Filecoin.
The network has now surpassed $540 million in on-chain RWAs, securing its position among the top three blockchains for real-world asset tokenization.
According to DefiLlama data, Aptos has also crossed the $1 billion milestone in total value locked (TVL) for on-chain assets, placing it in direct competition with established networks, including Avalanche, Sui, and Hyperliquid, all of which are members of the exclusive $1 billion TVL club.
Source: DefilLama$1 Billion Milestone: Aptos Layer-1 Blockchain Crushes TON, Cardano in Stablecoin Race
Aptos has distinguished itself as the highest-rated blockchain for stablecoin integration, evidenced by robust growth in stablecoin issuance across the network.
Stablecoin circulation on Aptos has exceeded the $1 billion threshold, at least $500 million more than comparable networks, including TON, Cardano, and Sei blockchain.
Source: DefilLamaVeteran cryptocurrency traders anticipate significant price appreciation for APT given the confluence of growth catalysts and bullish technical developments.
First1Bitcoin, a Bitcoin investor since 2015, observed that Aptos exhibits strong reversal signals following an extended downtrend.
After the recent price recovery from the critical demand zone near $5, he projects $8 and $10 as the next logical price targets.
Another market analyst noted that Aptos has rebounded from long-term support levels while successfully flipping above the 50-day exponential moving average, anticipating a potential 100-200% increase from current price levels.
Falling Wedge Breakout Targets 65% Surge to $8 Level
The APT/USDT daily chart displays a bullish breakout from a prolonged falling wedge pattern, a classic reversal formation.
After months of declining highs and lows, price action has decisively closed above the upper trendline, indicating a potential trend reversal.
Source: TradingViewThe breakout pattern suggests an upside target of approximately 65.19%, projecting the $8 level based on the height of the wedge formation.
This technical structure suggests that sustained trading above the former wedge resistance (now support) could drive prices higher in the short-to-medium term.
The APT/USDT weekly timeframe shows a robust multi-touch support zone within the $4.00-$4.20 range, which has served as a launching pad for multiple bullish reversals since late 2022.
Price is currently rebounding from this key zone after forming a potential double bottom pattern, suggesting renewed bullish interest if the level is maintained.
Source: TradingViewThe structure indicates that a sustained close above this support could initiate a new upward cycle, initially targeting the $10.52 level, followed by intermediate resistance levels at $15.26 and $19.43.
The bullish projection remains valid as long as APT maintains trading above the critical demand zone; a breakdown below this level would invalidate the setup and shift sentiment bearish.
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