Based

bullish

Aptos

when

APT secured the top gainer spot on Oct. 22 amidst a surge in total value locked in the protocol. 
<a href="https://crypto.news/tag/aptos/" target="_blank">Aptos</a> (<a href="https://crypto.news/price/aptos/" target="_blank">APT</a>) was up 9% in the past 24 hours hitting a daily high of $11.13 when writing. Its market cap surpassed $5.7 billion with a daily trading volume of over $597 million. 
The Price rally comes after the altcoin broke out of a tight trading range of $9.7 to $10.1 in which it was trading in the last 5 days. During the early trading hours on Oct. 22, a god candle formed on the APT chart that pushed its price from $10.10 to $11.12. 
A couple of recent partnerships and developments helped fuel this rally.&nbsp; 
Firstly, Aptos <a href="https://x.com/EchoProtocol_/status/1848183099202376013" target="_blank" rel="nofollow">integrated </a>with Echo Protocol, a decentralized finance platform on Oct. 21, which pushed the total value locked in Aptos to $150 million. The integration allows Echo protocol users to earn returns of up to 10% in APT, further enhancing the use cases of the altcoin. 
Per <a href="https://defillama.com/chain/Aptos" target="_blank" rel="nofollow">data </a>from DeFi Llama, Aptos’ TVL currently stands at its all-time high of $2.15 billion, making it the 7th largest blockchain in the DeFi industry, surpassing its competitor Sui (<a href="https://crypto.news/price/sui/" target="_blank">SUI</a>) which stood with a TVL of $1.64 billion. 
Moreover, Aptos also came under the spotlight after it <a href="https://x.com/MEXC_Official/status/1848274272256675972" target="_blank" rel="nofollow">announced </a>a strategic partnership with crypto exchange MEXC. This collaboration will involve joint initiatives aimed at promoting APT through a series of events. 
 You might also like: <a rel="" href="https://crypto.news/apt-coin-price-prediction-is-aptos-ready-to-kill-ethereum-and-solana/"> APT coin price prediction: Is Aptos ready to ‘kill’ Ethereum and Solana? </a> 
These developments have sparked renewed interest among traders. As per CoinGlass <a href="https://www.coinglass.com/currencies/APT" target="_blank" rel="nofollow">data</a>, <a href="https://crypto.news/aptos-surges-20-percent-24-hours-6-month-high/" target="_blank">open interest in the futures market</a> surged from $213.9 million to $274 million within the last 24 hours, marking a six-month high. Such a sharp rise suggests traders are expecting the rally to continue in the short term. 
The community sentiment metric on CoinMarketCap also signaled a similar outlook, with the majority of traders claiming they were bullish. 
<h2 class="wp-block-heading" id="technical-indicators-signal-more-upside">Technical indicators signal more upside</h2> 
On X, pseudonymous analyst AMCrypto <a href="https://x.com/AMCryptoAlex/status/1848370153588936979" target="_blank" rel="nofollow">observed </a>that Aptos is forming a bullish flag pattern, supported by increasing TVL, a surge in daily active users, and smart money quietly accumulating the token. These factors, according to the analyst, signal strong fundamentals and technical momentum, positioning Aptos for a potential breakout to new all-time highs in Q4. 
Based on the chart shared by the analyst, a breakout above the $10.50 resistance level would confirm the bull flag. At the time of writing, APT had already surpassed this level, priced at $10.96. As such, the APT could be rallying toward a short-term price target of around $12.50 as projected by AMCrypto. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="928" height="544" src="https://crypto.news/app/uploads/2024/10/APTUSDT_2024-10-22_13-53-58.png" alt="APT hits six-month high as God candle forms, rally expected to continue - 21" class="wp-image-14305185">
 <figcaption class="wp-element-caption">
 APT price, 50-day SMA, and 200-day SMA chart | Source: <a href="https://crypto.news/price/aptos/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
On the 1D APT/USDT chart the 50-day moving average had crossed the 200-day Moving Average leading to the formation of a golden cross, a sign of a major trend reversal to the upside in technical analysis. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="928" height="544" src="https://crypto.news/app/uploads/2024/10/APTUSDT_2024-10-22_14-18-05.png" alt="APT hits six-month high as God candle forms, rally expected to continue - 22" class="wp-image-14305186">
 <figcaption class="wp-element-caption">
 APT Bollinger Bands and RSI chart | Source: <a href="https://crypto.news/price/aptos/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
Moreover, the Relative Strength Index treaded above the neutral position since Sept. 18 suggesting a sustained interest from investors, supporting the overall bullish narrative. 
As the bulls continue to maintain control, and with the recent golden cross signaling a longer-term uptrend, APT could push toward higher resistance levels, with the next target potentially around $11.08, marked by the upper Bollinger Band. 
 Read more: <a rel="" href="https://crypto.news/aptos-surges-20-percent-24-hours-6-month-high/"> Aptos surges 20% in 24 hours, open interest reaches 6-month high </a>

APT hits six-month high as God candle forms, rally expected to continue

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