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Aptos price is one of the few cryptocurrencies that have almost recovered the value they lost during the entire 2022 bear market run. The Layer 1 token has in two weeks rallied 253% to trade at $13.55, bringing the network’s cumulative 30-day gains to a whopping 265%. Aptos is holding 4.4% shy of its all-time high of $18.00 but appears poised for a sharp move beyond $20.00.
Aptos Price Rally on A Temporary Hold Ahead of the Next Move To $20
Aptos price is heavily overbought, based on the short-term four-hour chart. The latest sprint above resistance at $10.00 ignored calls to slow down the uptrend and bulls went ahead to trade a four-month high of $14.55.
Following a minor retracement, APT price is dancing at $13.55 at the time of writing. Tentative support is expected at $12.50, which will allow bulls to take a breather as they plan the next attempt beyond the all-time high.
It is conceivable that Aptos price may stretch its pullback as investors book profits, especially the ones who bought near the all-time high in 2022. Moreover, the Money Flow Index (RSI) shows that more money has started exiting APT markets compared to the network’s inflows. The chart above shows the MFT entering the lower half of the neutral zone.
The Moving Average Convergence Divergence (MACD) indicator may send a sell signal possibly in the upcoming sessions unless investors ramp up inflows drastically. Traders looking for short positions in Aptos price should watch out for the MACD (line in blue) as it crosses below the signal line (in red). Besides, the histograms are already turning red from green, signaling rising overhead pressure.
On the bright side, the daily chart reveals that bulls hold the reins and have the momentum to push Aptos price higher. Notice the MACD above the mean line (0.00) while sustaining a positive divergence from the signal line (in red). The path with the least resistance is bound to stick to the upside as long as the histograms in the momentum indicator stay green.
As for stubbornly bullish traders who wish to keep betting on long positions in Aptos price, it would be prudent to wait until the hurdle, shown in the upper yellow band has been cleared. A four-hour to a daily close above this level at $14.00 would confirm a solid bullish grip and the potential for APT to accomplish a new historical high in 2023.
About Aptos
Aptos is a Layer 1 blockchain, just like Ethereum, created for safe development to realize the best user experience. The protocol provides an environment in which developers can seamlessly build and deploy web3 applications, solving today’s consumer needs.
The protocol focuses on achieving performance for the user. “With a parallel, batch-optimized, and modular transaction processing pipeline, plus innovations like Block-STM,” the team writes on the network’s official website.
Aptos is the 31st largest cryptocurrency boasting roughly $2.2 billion in market capitalization. It has a total supply of slightly over 1 billion APT but only 159 trillion tokens are in circulation.
Altcoins To Consider for Bigger Gains
New and upcoming altcoins are proving to be the easiest way for investors to bag massive gains within a short time. Hence investors must consider the best crypto presales in the market as they constitute their crypto portfolios for 2023. Previously listed presale tokens have performed exceptionally well, like Tamadoge, which rallied 1,800% after it was listed on the exchanges.
Meta Masters Guild (MEMAG)
Meta Masters Guild (MMG) is the first gaming guild concentrating on mobile web3 solutions. The team’s objective is to develop exceptional blockchain-enabled mobile games that establish a decentralized gaming environment, allowing our members to obtain rewards for their participation in the ecosystem in a sustainable manner.
All games in this new ecosystem will use a single currency: The Meta Masters Guild token (MEMAG) but in-game incentives will be paid in ‘Gems’. Players will then have the option to redeem or reinvest the Gems tokens in various ways within the ecosystem, including staking.
Players are looking forward to two upcoming games: Kart Racers, a PVP racing game optimized for mobile devices, and Raid NFT, a turn-based fighting game where players select warrior assets and engage in battles in different hostile environments.
Another game, Meta Masters World, will cater to the metaverse and allow players to explore an expansive virtual world similar to an open-world game but with less structure.
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Investors are buying MEMAG tokens in an ongoing presale that has raised $977k so far at $0.01 per token. Investors have six days before the price increases to $0.013.
Fight Out (FGHT):
The best Move-to-Earn (ME) presale is selling out fast, as investors scoop up Fight Out in droves. Investors have a limited chance to get FGHT tokens, with $3.21 raised so far.
Fight Out is a new Web3 platform to lower the barriers to entry for people interested in leading healthy lifestyles. The platform is so revolutionary that its mobile application will record the user’s daily workouts and exercises, in addition to tapping digital avatars for use in the metaverse.
Every user in the ecosystem has a “soulbound” avatar that virtually mirrors his/her fitness and health achievements in the real world. Fight Out will be the first move-to-earn crypto project to tap into the metaverse, ensuring dynamic human interactions.
The mobile application is the user’s companion to becoming ‘fighting fit’ but it does so much more like monitoring and tracking fitness routines and programs. Fight Out stands out from other M2E platforms for running a chain of gyms around the world.
These gyms will be equipped with various features including fitness centers. Each gym will have its own co-working space, health bar, and studio where elite athletes produce video workouts for consumption in the Fight Out companion app.
Related Articles:
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- Free to Play – No Barrier to Entry
- Putting the Fun Back Into Blockchain Games
- Rewards, Staking, In-Game NFTs
- Real-World Community of Gamers & Traders
- Round One of Token Sale Live Now – memag.io
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Source: https://insidebitcoins.com/news/aptos-price-goes-ballistic-explodes-253-in-two-weeks-to-14-55-as-apt-nears-all-time-high