The post Aptos: Can THIS pattern help APT push past $9? appeared on BitcoinEthereumNews.com.

Aptos’ on-chain activity surged, with 36.3% more transactions and 30.8% more active addresses. Horizontal scalability, rising Open Interest, and development activity signal strong growth potential. Aptos [APT] has witnessed a significant surge in on-chain activity, with weekly transactions rising to 48.71 million, marking a 36.3% increase. Alongside this boost, the number of weekly active addresses has also increased by 30.8%, reaching 7.37 million.  These figures suggest an upward trend, reflecting growing engagement and adoption within the blockchain ecosystem.  Horizontal scalability unlocks new potential Aptos recently unlocked horizontal scalability with the introduction of its Shardines technology, which enables over 1 million transactions per second [TPS] for non-conflicting transactions.  Additionally, the system can handle over 500,000 TPS for conflicting transactions, offering a major breakthrough in blockchain scalability. This innovation positions Aptos at the forefront of blockchain advancements, addressing scalability issues that have long plagued the industry.  With this new technology, Aptos can support more complex decentralized applications, driving further adoption and utility within the Web3 ecosystem. Price action analysis: Breaking out of the falling wedge? At press time, APT was trading at $6.19, with a 4.74% increase in the last 24 hours. The price is positioned near the lower boundary of a falling wedge pattern, which often signals a potential breakout. The price has been moving within the wedge’s converging trendlines, suggesting a buildup of momentum. If APT manages to break out above the wedge’s upper trendline, it could see a substantial rise toward the next resistance levels around $9.88 and $14.70. Source: TradingView Open Interest on the rise: A shift in sentiment? Open Interest (OI) in APT has also shown signs of a recovery, rising after a prolonged downtrend. At press time, the OI was $42.78 million, signaling renewed investor interest in the token.  This increase follows a period of low…

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Filed under: News - @ February 10, 2025 10:19 pm