Aptos eyes $4.70 despite altcoins decline; Check forecast

Aptos price eyes $4.7

Key takeaways

  • Aptos is up nearly 4% in the last 24 hours, making it the second-best performer in the top 50 behind Pump.fun.
  • APT could rally to the $4.70 resistance level soon.

APT closes in on $4.5

The cryptocurrency market has been volatile since the start of the week, with prices of altcoins swinging in both directions. Bitcoin is trading above $114k while most altcoins are currently underperforming.

However, APT, the native coin of the Aptos blockchain, is up 4% in the last 24 hours, making it the second-best performer among the top 50 cryptocurrencies by market cap. At press time, APT is trading at $4.44 and could rally higher in the near term. 

The rally comes as Aptos announced earlier today that World Liberty Finance’s USD1 is coming to Aptos. USD1 will have day one support from across the Aptos ecosystem on Monday, October 6. The support includes Aptos DeFi protocols such as Thala, Panora, Echelon, and Tapp Exchange.

APT targets the $4.7 resistance

The APT/USD 4-hour chart remains bearish and efficient despite Aptos adding 4% to its value in the last 24 hours. However, the momentum indicators have switched bullish, suggesting that buyers are regaining control of the market.

The Relative Strength Index (RSI) of 69 is above the neutral 50, indicating a bullish bias. The Moving Average Convergence Divergence (MACD) lines are also within the positive territory, flashing a buy signal for the cryptocurrency.

APT/USD 4H Chart

If the bullish trend on the lower timeframe continues, APT could rally towards the next major resistance level at $4.75 over the next few hours or days. An extended bullish run would allow the cryptocurrency to target the $5.14 high for the first time since August 14.

However, if Aptos undergoes a correction, it could retest the Sunday low of $4.05. The support level at $3.88 could be a tough one for the bears to beat in the near term. 

Source: https://coinjournal.net/news/aptos-eyes-4-70-despite-altcoins-decline-check-forecast/