Aptos Price Forecast: Why APT Could Soon Test $20

Highlights:

• Aptos is making higher lows in a bullish channel
• Sustained momentum puts $20 in focus
• Strengthening fundamentals could push Aptos to $20 short-term

Aptos has experienced a surge in bullish momentum in the last 24 hours. This is in tandem with the rising bullish sentiment across the cryptocurrency market. At the time of going to press, Aptos was trading at $14.06, up by 4.01% in the day. Trading volumes were also on the rise in the day, up by 29% hit a high of $557.58 million. 

These rising volumes point to the rising bullish sentiment around Aptos. It could mean that this top-rated cryptocurrency could be on course for a major price rally in the short term. Quite realistic given that FOMO is on the rise across the cryptocurrency market. 

Technical Analysis – Aptos Price Trading in a Bullish Channel

One of the key indicators to Aptos heading higher is the fact that the charts point to rising bullish sentiment. From the charts, Aptos is trading in a bullish channel while making higher lows. This is an indicator that every dip in Aptos price is being bought up.

With bullish momentum on the rise across the market, there is a good chance that Aptos could continue trading in this channel. However, for clear confirmation of a more sustainable uptrend, Aptos needs to breach its weekly high of $15.34. A rally through $15.34 could see Aptos hit $20 in the short term. 

On the other hand, if there is a correction that breaks the ongoing bull run, the key level to watch would be the $11.64 weekly support. A correction through the $11.64 support could see Aptos drop to around $10.

While there is always the possibility of such a scenario playing out, the odds favor a continuation of the bull rally. There are several factors within the Aptos ecosystem and the broader market that could drive the ongoing bullish momentum.

Tomarket Shifts from Ton Ecosystem to Aptos

One of the big news around Aptos at the moment is the shift by Tomarket from TON to Aptos. Tomarket was set to launch its token on the Ton network but has now shifted to Aptos.  The date for the token launch has been set for December 20. The shift to Aptos is a big deal given that Tomarket already has widespread adoption.

Tomarket currently has 50 million users, of which 6 million are active daily. This, along with the fact that the token launch will be through an airdrop, could see FOMO buying push Aptos to new highs in the short term. This could be the trigger that pushes Aptos through the $20 mark in the short term. 

Venture Capital Interest in Cryptocurrencies on The Rise

Aptos could also benefit from the fact that VC funding for cryptocurrencies is on the rise. This is driven by the fact that crypto regulations are set to become friendlier once Trump assumes office. Aptos is one of the top cryptocurrencies that is drawing in significant VC funding.

Aptos has a $400 million in VC funding, money that is helping in driving blockchain innovation in key areas like network scalability and transaction speeds. With such strong financing that can draw in new projects to Aptos, value could be set to rocket. 

Correlation to Bitcoin Positions Aptos for a Parabolic Price Move

On top of all the internal strengths, the broader market favors an Aptos rally. Bitcoin is gaining upside momentum after establishing solid support above $100k. Multiple analysts are in consensus that Bitcoin could soon rally to $200k or more within this cycle. This could trigger FOMO buying of fundamentally strong altcoins like Aptos.