Aptos Price On Cusp Of A 25% Move To $7.5

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Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are struggling due to a lengthy weak market structure. Market watchers attribute this dilapidated condition to the lack of volatility, a global economy held back by inflation, and a persistent regulatory pushback by agencies in the US. On the other hand, Aptos (APT) price appears to be on the fastest lane to recovery, up 7% over the last 24 hours to $5.5.

With trading volumes exceeding $200,000, there is a high probability Aptos is set for a 25% surge to bring down resistance at $7.5.

Aptos Price On the Cusp of 25% Breakout

Since January’s rally to $20, Aptos has been confined in a descending channel, allowing sellers to control the narrative. On multiple accounts, bullish attempts to escape these bearish shackles have gone down the drain except for the buyer congestion at $5.

With bulls setting camp at $5 and more buyers seeking exposure to new long positions in APT, a significant breakout is anticipated.

Based on the daily chart, Aptos price sits on top of a key support area, reinforced by the 21-day Exponential Moving Average (EMA) (red) at $5.36. Meanwhile, a bullish candle is on the verge of resisting resistance at the channel’s upper bound.

Such a move would accompany a spike in trading volumes to support the run-up to $7.

A buy signal from the Moving Average Convergence Divergence (MACD) adds credence to the bullish outlook. Traders will likely keep their buy orders open if the blue MACD line holds above the red signal line. The momentum indicator must move upward to the mean line (0.00) and into the positive region to keep the uptrend validated.

APTUSD price chart — APT/USD daily chart | Tradingview

The Relative Strength Index (RSI) upholds the growing presence of bulls in the market as it climbs from near oversold conditions, targeting the overbought region above 70.

It is possible that some traders, especially those who bought Aptos at $5, may prefer to book profits as bulls struggle with the channel’s upper boundary resistance. However, the likelihood of a 25% breakout to $7, backed by the bullish technical indicators, could keep most traders interested in this token.

The 100-day EMA (blue) at $6.48 and the 200-day EMA (purple) at $7.21 are key levels traders should consider. On the other side of the fence, short positions in APT could start turning profitable if the upper channel’s limit does not budge.

Traders disappointed in the failed breakout may consider shorting Aptos price and contributing to the selling pressure. The 21-day EMA is in line to provide support, but if push comes to shove, declines could retest the $5 major support slightly above the channel’s middle boundary.

Aptos Price Rallies Despite Fake APT Tokens Deposit On Upbit

Upbit, a Korean cryptocurrency exchange, faced a peculiar incident on Sunday when fake APT tokens were deposited to fool users. The exchange was forced to temporarily suspend services to weed out the scam token, which, according to on-chain data, originated from an airdrop run by a site called ClaimAPTGift.com.

“Due to the maintenance of the Aptos (APT) wallet system, we are suspending the Aptos (APT) deposit and withdrawal service.” Aptos announced via X. “We will resume deposits and withdrawals once the maintenance is complete, and we will update the service resumption through this notice.”

Over 400,000 wallets received the fake token amid concerns by a user on X who revealed that a bug on Upbit had allowed the fake tokens to be deposited. Due to the bug, the exchange did not check the source code.

“The Largest S. Korean exchange @Official Upbit, abruptly halted Aptos’ deposits and withdrawals, citing a wallet system maintenance without any specific reason,” Definalist, a user on X wrote on Sunday.

The fake tokens set a monumental record of $3.4 billion, impacting over 400,000 wallets.

Aptos Alternative To Buy – BTCBSC

As the cryptocurrency market struggles through the winter, investors may want to expand their scope to emerging technologies such as the Bitcoin BSC project (BTCBSC). Although still new in the market, the project boasts over $3.2 million in seed round funding.

It has quickly come to be referred to as the Bitcoin clone, as it is designed to represent a BEP-20 version of Bitcoin executing on Binance’s BNB Smart Chain. According to the project’s whitepaper, the protocol is “simulated to start at an early point in Bitcoin’s history in 2011.”

Investors who regret missing the chance to buy Bitcoin at $0.99 have a once-in-a-lifetime opportunity with BTCBSC.

Using the Binance Smart Chain (BSC) as the underlying technology implies faster transaction speeds while keeping fees low. Transactions are also confirmed within five seconds compared to roughly 10 minutes on the original Bitcoin network.

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Investors are buying BTCBSC in a presale that has already raised $4.9 million at $0.99 per coin. The investment process is without complications, but investors must have a crypto wallet with either BNB, USDT, or ETH.

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