Tether will launch USDT on the Aptos blockchain

• Aptos announces that Tether, the largest stablecoin, will soon be integrated with its blockchain.
• Aptos price is trading inside the bearish wedge pattern that could cause a bullish move if broken.
• A daily candle close below $5 would invalidate the bullish thesis.

Aptos (APT) announced on Tuesday that Tether is launching its USDT stablecoin on the Aptos blockchain. This move is positive for Aptos as stablecoins like USDT act as a bridge between crypto assets and fiat currencies. Furthermore, from a technical perspective, the Aptos price action shows a descending wedge pattern formation which, if broken, could lead to a bullish move.

Aptos announces partnership with Tether

Aptos announced on its Twitter post on Tuesday that Tether is launching its USDT stablecoin on the Aptos blockchain. This event could have an optimistic outlook for Aptos, as the integration of USDT into the Aptos blockchain is expected to increase liquidity and trading volumes.

As USDT is one of the most widely used stablecoins, its launch on Aptos is expected to attract more users and traders to the platform. Tether’s switch to Aptos promises lower transaction fees, which could increase transaction volume and improve user adoption, encouraging more frequent transactions on the network.

In general, the arrival of USDT on Aptos is seen as a pivotal event that could lead to substantial growth and adoption for both Tether and Aptos.

Aptos price could be poised for a rally

Aptos price is trading in a bearish wedge pattern (derived from the confluence of multiple highs and lows with a mid-April trend line). Breaking this pattern would signal a bullish move. At the time of writing on Tuesday, APT is trading slightly higher by 5.3% at $6.35.

If APT breaks the bearish wedge pattern and closes above $6.95, it could rise 12% to retest the daily resistance level at $7.79.

The Relative Strength Index and the Awesome Oscillator (AO) on the daily chart are about to break their neutral levels of 50 and zero. For bullish momentum to sustain, both indicators need to be well above their neutral levels.

If APT closes above $7.79, it could extend an additional 11% rally to revisit its June 10 high of $8.63.

APT/USDT Daily Chart

However, if APT’s daily candlestick closes below the August 8 low of $4.99, the bullish thesis would be invalidated by forming a lower low on the daily time frame. This move would send Aptos price plunging 12.5% ​​to retest the August 5 low of $4.32.