Aptos price targets 56% upside on bullish reversal pattern

Aptos price has confirmed a bullish reversal pattern amid new ecosystem partnerships.

According to data from crypto.news, Aptos (APT) was trading at $5.12 on Oct. 3 afternoon Asian time, up 5% over the past 24 hours and 30% over the last 7 days. 

The token’s daily trading volume peaked at nearly $1.2 billion today, almost double the level seen at the start of the period, showing robust demand from traders. 

Investor interest has also been notable in the derivatives market. According to DeFiLlama, open interest in APT futures climbed from $323 million to more than $436 million at the time of writing, while the weighted funding rate turned positive, both signs that a larger number of traders are starting to open long positions as they remain bullish on the token’s future outlook.

A slew of catalysts have been supporting the tokens’ gains in recent days.

First, Aptos has recently announced a partnership with World Liberty Financial (WLFI) that will bring the USD1 stablecoin to the Aptos blockchain. The launch is scheduled for Oct. 6.

With USD1 currently the sixth-largest stablecoin by market cap at around $2.7 billion, its launch is expected to significantly enhance Aptos’ position in the DeFi space by attracting more trading, lending, and liquidity provision activity to its ecosystem.

Second, Backpack, a multichain wallet and app platform, has introduced native support for Aptos. The development could help boost Aptos adoption as it lowers entry barriers for new users.

At the same time, DeFiLlama data shows that rapid growth in Aptos-based DeFi protocols has pushed the total value locked on the Aptos blockchain from $28 billion in April to over $75 billion at press time. The stablecoin supply on the network has also climbed 5% in the past seven days, reaching $1.09 billion.

On Aptos, the rise in TVL alongside the expanding stablecoin base is a sign that users are not just parking assets temporarily but are actively engaging with the network’s lending protocols, liquidity pools, and decentralized exchanges.

Finally, the broader market rally, coinciding with October’s historical trend as a bullish month for Bitcoin and the crypto market as a whole, has also kept any sort of bearish pressure at bay.

At press time, the crypto Fear and Greed Index had moved into the greed zone, up from fear just a week ago.

On the daily chart, Aptos has broken out of a multi-month descending triangle pattern, characterized by a flat lower trendline acting as support and a descending upper trendline forming resistance. A breakout from this pattern leads to a bullish reversal, as momentum shifts in favor of bulls.

Aptos price moved above the upper trendline today and successfully retested it as support, which further cemented the bullish outlook among traders.

The Supertrend indicator has also flashed a green signal as it moved below the price level. On top of that, the MACD line has crossed above the signal line, with both trending upward.

Based on these positive technical signals, the next target for APT lies at $8.20, derived by adding the height of the triangle formed to the price point at which the breakout occurred. This target remains 56% above the current price levels.

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