Aptos Price Forecast: Is $20 Price Target Imminent Amid zkME Partnership Boost?

28.02.2024

Aptos price forecast: Aptos, a prominent Layer 1 Proof-of-Stake (PoS) blockchain, has recently shown a significant bullish trend. Its token, APT, is on a recovery trajectory, mirroring a wider positive movement in cryptocurrency.

Currently, the price of Aptos stands at $11.61, showcasing a vigorous ascent of over 16%. This upswing suggests a shift towards a more bullish stance for the altcoin in the forthcoming period.

Aptos Price Forecast: Signaling a Bullish Market Trend

In the past 24 hours, the price of Aptos surged past the $11 resistance mark, following a bullish trend in the aftermarket. This trend aligns with the overall market movement, where most cryptocurrencies are experiencing gains. Notably, Bitcoin has climbed beyond the $61,000 mark, fostering an optimistic sentiment throughout the market.

Over the last week, the altcoin market has witnessed a striking performance by Aptos, which saw its value soar by more than 26%. According to CoinMarketCap data, this impressive growth has positioned it as one of the leading performers.

Aptos price forecast

The price of Aptos has been oscillating between $9 and $12, creating a pattern known as an ascending triangle. Despite minor fluctuations, this trend has contributed to the coin’s momentum over the past month.

Currently, Aptos boasts a market capitalization of around $4.2 billion, experiencing a notable increase of over 5%. This surge has placed Aptos as the 25th largest cryptocurrency in terms of market cap.

Additionally, the trading volume for Aptos has spiked by 185% in the last 24 hours, reaching $624 million. This surge indicates a growing interest from traders in the cryptocurrency.

Strategic Partnerships Bolstering Aptos Ecosystem

The Aptos (APT) ecosystem’s decentralized finance (DeFi) protocols have experienced a remarkable surge in their total value locked (TVL), doubling since the start of the year to surpass $255 million.

This significant growth underscores a rising trend in user engagement and adoption within the ecosystem. Key developments fueling this increase include a partnership with zkME to bolster identity security, integrating real-world assets (RWA), and advancements in the non-fungible token (NFT) sector.

Big moves for growth and security on Aptos! The Aptos Foundation and @zkme_, leader in blockchain-based identity solutions, have partnered to provide easy, secure, and confidential identity verification on the Aptos network.

zkMe’s identity oracle will be integrated into the… pic.twitter.com/CMsXnZO3kT

— Aptos (@Aptosly) February 27, 2024

A notable partnership between Aptos and the esteemed blockchain identity security firm zkME aims to elevate the security of identity verification processes. This move bolsters user trust and safety across the Aptos network. Furthermore, Ondo Finance, a platform dedicated to tokenizing RWAs, has partnered strategically with the Aptos Foundation.

According to the report, this alliance is set to enhance the integration of tangible assets within the Aptos blockchain. Ondo Finance has also introduced its USDY coin to the Aptos ecosystem, offering users exposure to USD-backed digital assets.

Aptos Price Forecast: Technical Analysis Signals Bullish Outlook

The current uptrend in the market could propel Aptos’ (APT) price beyond the $12 resistance, potentially aiming for a $15 target. If the momentum continues to build, the altcoin might even reach the $20 mark in the near future.

Conversely, should APT struggle to break the $12 threshold, it may trigger a downward correction. The initial support is projected around the $10 mark, with a more significant safety net positioned at $9.

Aptos Price Chart: Tradingview

The daily technical analysis of Aptos’ price presents a bullish outlook. The Relative Strength Index (RSI) is at the 72 level, indicating that the market is overbought. Moreover, the Moving Average Convergence Divergence (MACD) indicator exhibits a bullish trend, as evidenced by its line ascending above the signal line. Collectively, these technical metrics underscore the optimistic sentiment currently awaiting APT.