Aptos (APT) has broken out of a long-term descending price channel, signaling a potential trend shift. The altcoin is holding above a key former resistance level after a successful retest. Analysts note a bullish crossover on the MACD indicator, though overall momentum remains negative, with the price still trading below major moving averages.
The Aptos (APT) cryptocurrency has broken out of a long-standing descending channel on its daily chart. Analyst Butterfly revealed the asset is holding above former resistance following a successful retest, confirming a shift in market structure.
This price action indicates strengthening bullish control as buyers begin to reverse the prior downtrend. Butterfly is now eyeing the $3.90 level as a potential key target for the asset.
According to TradingView data, APT’s price struggles near $0.84 beneath a downward-sloping set of key moving averages. The moving average alignment confirms sellers have maintained control despite recent stabilization.
The MACD indicator shows a bullish crossover occurring while still in negative territory. This signals fading selling pressure, though the indicator’s position suggests any upward move may be a correction within a larger bearish trend.
Beyond price, the Aptos blockchain is gaining traction with rising on-chain activity. Weekly fees reached a six-month high with 47,350 APT burnt, and decentralized exchange Decibel Trade surpassed $1 billion in total volume.
The network also launched confidential assets on its testnet to improve privacy and security. Daily active addresses grew 18.2% to 1.3 million, with 274.8 million transactions recorded in March.
