Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Aptos (APT) recorded a 37.6% surge in the last two weeks, reclaiming its Q1 levels. According to some market watchers, the cryptocurrency\u2019s recent performance follows SUI\u2019s lead, which has set the stage for a massive rally toward a new all-time high (ATH) in the coming weeks. Related Reading: Bitcoin \u2018Parabolic Phase Just Begun\u2019, Is BTC Hitting $100,000 This Week? Aptos To Follow SUI Steps Aptos has recorded a remarkable performance amid the market\u2019s rally. Following the US presidential elections, the cryptocurrency has climbed from the $7.8 mark to reclaim the $11 support zone for the first time since late April. According to some crypto analysts, APT\u2019s chart displays a similar trajectory to SUI\u2019s. Analyst Alex Clay pointed out APT\u2019s performance is \u201cfollowing SUI steps perfectly,\u201d suggesting that a breakout might be coming soon. Per Clay\u2019s post, Aptos\u2019s chart displays the same price action as SUI, starting with a decline from its 2023 highs followed by a rise toward March\u2019s highs. After Q1\u2019s performance, the cryptocurrencies retraced over 70%, making a higher low (HL) from last year\u2019s bottom and rising near March highs. However, SUI took the lead and is currently in its \u201cprice discovery mode\u201d after surpassing its March ATH a month ago. In the last month, the token surpassed its previous high several times, setting its latest ATH of $3.92 two days ago. Based on this, the analyst suggests that investors should \u201cwait for APT to breakout and price discovery.\u201d Another market watcher previously noted that SUI and APT were moving in a \u201ccatch-up trade\u201d path for the last year. The trader explained that the cryptocurrencies followed a similar path before SUI \u201cdecoupled\u201d twice. Following SUI\u2019s takeoff, APT experienced an over 40-day lagging period before resuming its run. At the time of the report, Aptos was two weeks away from catching up on SUI, which now coincided with the post-election run. An SUI-like breakout could see APT surpass the $18 mark and soar toward a price discovery zone above the $20 range. APT Eyes $20 Target Crypto analyst Quinten highlighted APT\u2019s recent performance, asserting that it is \u201creclaiming its dominance, printing consistent higher highs and higher lows.\u201d He also noted that the token\u2019s chart shows \u201cstrong accumulation leading up to this explosive breakout.\u201d Last week, the token soared over 40% toward its monthly high of $13.3, a level not seen in seven months. Since then, the cryptocurrency has moved sideways, consolidating between the $11.5-$12.6 price range, briefly losing the lower range when Bitcoin (BTC) retraced toward $87,000. Related Reading: Crypto Analyst Warns of Potential Bitcoin Market Shift as Exchange Reserves Decline The $11 mark was a significant resistance throughout Q3, with APT being rejected from this range several times. However, the token has successfully held above this level for seven days. As a result, the analyst believes the current momentum could send Aptos to a new ATH, as the \u201cnext big psychological and technical target\u201d is at the $20 mark. At the time of writing, APT is trading at $11.79, a 2.2% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":645140,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87237,85692,93142,87338,87322,26263,92978,10923,89756,87261,88213],"class_list":["post-653940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apt","tag-aptos","tag-aptos-network","tag-aptos-price","tag-aptusdt","tag-crypto-analyst","tag-crypto-bull-run-2024","tag-crypto-market","tag-crypto-trader","tag-sui","tag-sui-network"],"acf":[],"yoast_head":"\n
Aptos Following SUI\u2019s Lead? APT's \u2018Explosive Breakout\u2019 Eyes $20<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n