Home News Aptos Price Pumps 86% to $7: A Buy and Potential for $10 Soon

James Carter

14 Jan 2023

Aptos Price Pumps 86% to $7: A Buy and Potential for $10 Soon

On Thursday, January 12, after the release of data from the Consumer Price Index (CPI) in the United States, Aptos (APT) had a perfect trading day. Market investors have begun betting on the potential of a slowdown in the pace of inflation in the USA due to the statistics, which suggest a slight decrease in inflation.

After consolidating for three days above its prior range resistance, which has now turned into a support area of $5.1847 to $5.3922, APT was able to close at $6.4632, resulting in a significant gain of 21.89%. This caused the price of APT to reach a new high of $6.4632. When this article was written, APT had gained 36% in the previous 24 hours and a staggering 87.99% for the week.

The publication of U.S. CPI data has also led to a surge in Bitcoin, with the world’s largest digital currency by market cap climbing above $19,000 for the first time since November 8 and eventually closing with a 5.08% daily gain. Bitcoin is the world’s largest digital currency because it is decentralized and operates without a central authority.

Forecasting the Value of Aptos (APT) Based on Technical Analysis

The 20-day and 50-day exponential moving averages (EMAs) for APT are swiftly approaching one other at $4.6388 and $4.7090, respectively, which is evidence of the cryptocurrency’s current bullish momentum.

The relative strength index (RSI) for APT is currently at 81.30, indicating that the asset may be overbought. This serves as a caution to traders to remain attentive and keep an eye out for indicators of a possible trend reversal. Investors are supposed to keep a close eye on all of the swings in the price action and trading volume to acquire a more comprehensive analysis. This will allow them to determine whether or not a confirmation from volume is accurate.

Also Read:  Aptos Price Surge: Invest in These 3 Coins for Potential 10x Gains

A bullish trend is also indicated by the MACD indicator for APT, which points in that direction. The MACD line is located at 0.4660, and the signal line can be found at 0.0997. The MACD and the signal line are separated by a sizeable distance, indicated by the histogram, which has a value of 0.3663 and is positive.

APT is trading at $7.04 right now, and it is getting dangerously close to the strong resistance in the region of $7.1620 to $7.2234. If the resistance is not breached, the area between $5.1847 and $5.3922 constitutes a significant support level. If APT can convincingly break through its current resistance, the price may go closer to $10.

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