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Aptos (APT) bears were taken by surprise as the price of Aptos experienced a sudden and significant surge, indicating the possibility of an ongoing upswing in its value.
As of 8:57 am EST, the price was observed at $7.41, reflecting a decline of 4.7% over the past 24 hours.
The daily trading volume performance has captivated investors’ interest, boasting an astounding 203.60% uptick.
This surge in trading activity has been a driving force behind the notable weekly price escalation of Aptos by 8.5%.
APT Price Breakout From a Falling Wedge
According to the chart, the breakout from the falling wedge pattern and subsequent consolidation allowed the bulls to regroup and push the price higher, as the last green candlestick indicates.
This momentum is supported by the breach of the 50-day simple moving average, which further signifies the strength of the bullish sentiment.
Moreover, the resilience of the upper barrier of the wedge has forced the bears to retreat, indicating a weakening bearish influence.
If the bullish momentum persists, there’s a good chance that the price could overcome the 200-day moving average at $10.19, which has been acting as a resistance point.
The relative strength index (RSI) reaching 57 and trending on a sharp spike implies increased buying pressure.
This suggests that more market participants are entering the market with a positive sentiment, potentially driving the RSI to the overbought region of 70.
Based on the analysis above, the price prediction for Aptos (APT) appears optimistic.
The bullish momentum supported by the breakout from the falling wedge, breach of the 50-day moving average, and strong RSI readings suggests that the price may continue to rise, potentially breaking through the $10.19 resistance level to settle at $16.54.
However, as with any financial prediction, unexpected developments could impact the price trajectory and force it down to its previous support of $6.55.
Investors can now engage with the upcoming crypto project, BTC20, which promises to be a potential gem in the crypto space.
Having recently concluded its presale, the token is poised to debut on exchanges at an attractive price.
This positioning presents BTC20 as a compelling alternative to Aptos (APT) for those seeking lucrative prospects.
BTC20 Alternative to Aptos(APT)
BTC20, an ERC-20 cryptocurrency project, combines Bitcoin’s operational mechanisms with the fast and robust smart contract functionality of the Ethereum blockchain.
Its objective is to emulate Bitcoin’s early achievements, providing investors a chance to become part of the project before a potential surge in its price.
The presale phase of BTC20 concluded successfully, reaching its $6.050 million target. This achievement reflects the growing interest from investors in the project and the enthusiastic anticipation within the crypto community as they await the launch of its staking program.
🗓 Claiming goes live TODAY 🕒
You will be able to claim your $BTC20 #Tokens directly from our website TODAY at 3pm UTC 🕒.
A friendly reminder: We recommend keeping around 0.015 $ETH on hand to cover the gas fees during the #Claiming process.🚀 pic.twitter.com/IrEu09gUkT
— BTC20 (@BTC20Token) August 10, 2023
Users who didn’t participate in the presale can link their crypto wallets and buy BTC20 tokens directly from the official website.
BTC20 project utilizes a staking mechanism to establish a passive income system within its ecosystem.
An official Twitter announcement has confirmed that staking activities are set to commence on August 9 at 3 pm UTC. Additionally, claiming tokens will initiate on August 10 at 3 pm UTC.
🚀 BTC20 Staking Alert! 🚀
⏰ Staking kicks off at 3 pm UTC today, with potential APY returns up to 520%!
📜 The $BTC20 journey mirrors #Bitcoin's 2011 phase, with a block reward of 50 $BTC20/block.
💰 14,950,000 $BTC20 #Tokens are set aside for #Staking rewards.
⏳ Real-time… pic.twitter.com/oUhyepyD5h
— BTC20 (@BTC20Token) August 9, 2023
BTC20 boasts a maximum token supply of 21 million, mirroring Bitcoin’s total available tokens. However, distinguishing itself with an eco-friendly approach, BTC20 employs staking to secure its ecosystem efficiently. Users who engage in staking to provide liquidity will reap rewards in return.
Furthermore, the staking rewards associated with BTC20 are governed by a smart contract, which dynamically adjusts rewards and Annual Percentage Yield (APY) based on each wallet’s stake within the staking pool.
BTC20 will undergo halving events to diminish block rewards by 50% approximately every four years.
Anticipated for 2027, the inaugural halving event will curtail stake rewards from 50 BTC20 tokens per block to 25. The project’s robust tokenomics underscore its potential for gradual value appreciation.
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