Aptos Price Goes Ballistic – Explodes 253% In Two Weeks To $14.55 As APT Nears All-Time High

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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.

Aptos Price Nears all-time high
APT/USD four-hour chart

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.

Aptos Price Nears all-time high
APT/USD daily chart

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.

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Related Articles:

 

Meta Masters Guild – Play and Earn Crypto

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  • 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