Aptos Price Analysis – Could Bitwise’s APT ETF Strike a Rally?

Highlights:

• Aptos price soars 4% to $6.14 as trading volume spikes.
• This follows Bitwise’s recent APT ETF filing.
• Technical indicators, including the RSI and MACD, show potential upside.

The Aptos price has spiked 4% to trade at $6.14, as its daily reading volume spikes 9% to $363.65M. The recent spike comes as Aptos is being integrated into traditional finance via Bitwise’s proposed spot ETF, boosting regulated access to APT and its standing in mainstream financial markets.

🚨BITWISE FILES FOR #APTOS $APT ETF pic.twitter.com/iY3EsQDYOv

— Giannis Andreou (@gandreou007) March 6, 2025

APT presents a change in Bitwise’s crypto investment strategy as the latest ETF filling. This is because Bitwise’s last ETF fillings were all high-market capitalization tokens, but Aptos ranks 36th in this list. Aptos is a relatively new coin, founded in 2021, and its market capitalization is $3.8 billion.

Developed by two former Facebook employees, Mo Shaikh and Avery Ching, it emerged as a Solana killer. This high-speed, low-cost layer-1 blockchain token trades around $6.14, with one-nineteenth of Solana’s market cap.

Aptos Price Outlook

Aptos price consolidates within a descending parallel channel, struggling to break key resistance levels. The price has found support around the $5.41 mark, with multiple bounces and rejections. Meanwhile, the inability to reclaim the next resistance levels keeps downward pressure intact, with the price revisiting the lower boundary of the descending channel. 

According to the daily chart, Aptos price is currently trading at $6.14, experiencing a 4% increase for the day. The price remains in a well-defined descending channel, confirming a long-term bearish trend. The 50-day MA ($6.81) and the 200-day MA ($8.80) continue to act as resistance, suppressing any attempts at recovery. 

However, sellers could maintain control if Aptos price fails to reclaim these levels, leading to a retest of the channel’s lower boundary. The immediate support lies at $5.41, and a breakdown below this level would confirm further weakness, possibly extending the bearish momentum to $5.11.

On the upside, for Aptos price to regain bullish momentum, it must break above the 50-day and 200-day MAs with a strong bullish candlestick. If this happens, the next major resistance level is around $10, $12, and $14, which aligns with the channel’s upper boundary.

A confirmed breakout above this level could shift the trend into a bullish phase, attracting more buyers. However, as long as the price remains below these key resistance zones, the overall structure remains bearish, and traders should remain cautious of further downside movements.

Technical Indicators Show Potential Upside

A zoomed outlook at the Relative Strength Index is currently reading at 48.60, showing a neutral-to-bullish outlook. At this level, if the bulls strike out in an upward trajectory, the RSI could rise above the 50-mean level, confirming the bullish scenario. 

On the other hand, the MACD indicator has risen above the orange signal line, upholding a bullish outlook. Unless the MACD changes, traders and investors should rally behind Aptos. Fundamentally, Aptos’s reliability and efficiency support its long-term outlook, but external factors remain a key influence. The current risk-off sentiment in the crypto space has made it difficult for APT to sustain upward movements, leaving traders cautious. 

However, as Bitwise has filed for its ETF, renewed interest could be rekindled if market conditions improve. Aptos may find the momentum needed to challenge and surpass the $8 barrier. Until then, patience and close monitoring of market signals will be essential.