Aptos Price Prediction: APT Pumps 11% Amid MEXC Campaign As This Parabolic Layer-2 PEPE ICO Races Towards $22 Million
Release: 2024/10/22 15:49 Reading: 368
Aptos Price Surge: 11% Jump and Bullish Technical Outlook
The Aptos (APT) price soared over 11% within 24 hours, reaching $11.05 as of 11:24 p.m. EST. This spike follows the announcement of a partnership between Aptos and MEXC, which entails a series of events centered around APT. Investors can participate in these events to access a prize pool totaling 1.5 million USDT.
Technical Analysis
On the 4-hour chart for APT/USD, the price has breached the $10.20 resistance and is poised to convert the $10.89 barrier into support. If this threshold is successfully overcome, APT could ascend to the next significant mark of $11.55.
Alternatively, if sellers obstruct a 4-hour candle close above $10.89 within the next 12 hours, the bullish outlook could be invalidated. In such a scenario, APT might retrace towards the $10.20 level. Further downside pressure could push the price down to $9.66.
Bullish Indicators
Technical indicators on the 4-hour chart suggest continued bullish momentum for APT. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) both exhibit positive signals.
RSI readings have increased, indicating stronger bullish influence. While the current reading of 74 suggests overbought conditions, the positive slope of the RSI line suggests that traders may not realize profits in the immediate future.
Moreover, the MACD line has crossed above the MACD Signal line, signaling a potential short-term positive trend for APT. The increasing gap between these indicators reflects growing bullish momentum, which could drive further price increases.
Additional News
Apart from APT, the layer-2 meme coin Pepe Unchained (PEPU) has gained traction, approaching the $22 million fundraising mark in one of the year's most successful ICOs.
Pepe Unchained aims to free the PEPE meme coin from the Ethereum network's congestion by introducing its own Layer 2 blockchain. This move will facilitate faster processing times and lower fees.
The project's upcoming presale offering tokens at $0.0115 can be purchased using ETH, USDT, BNB, or a bank card. A price increase is expected soon, so interested investors are advised to participate before the deadline.
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