The market’s newest altcoin project, Aptos, continues to make waves with a massive gain of over 18%. The price is in a 7-day rally and is currently trading at $8.79. Here are the predictions for the next levels from 3 analysts.
Aptos joins altcoin market for revival
Although Aptos is only in its first month, it is already making huge gains. It recorded a peak of $10.22 just four days ago. It later settled at $9 with some correction from this level. However, Aptos is not the only cryptocurrency that has made significant gains in the last 7 days. Many other cryptocurrencies have also seen significant growth. For example, Dogecoin has recorded an impressive 41% increase in the last seven days. But Dogecoin wasn’t the only one seeing such gains. Ethereum and Cardano also experienced similar increases of over 20% each.
Aptos price analysis
Since October 23, the price of Aptos (APT) has been moving in a descending parallel channel. Usually, corrective actions are seen in these descending parallel channels. If that’s true for APT, it’s possible he’s out of the channel. However, it has not made any confirmation of resistance or support lines. There is also a possibility that the price of APT will drop below the middle line of the channel. In this case, the potential for a breakout will be stopped. Currently $8.65 is where most APT buyers and sellers converge. Analyst Alyz says that if it breaks this support, APT price will gain downward momentum.
The APT wave count shows a positive trend. We have seen five waves of progress in APT as of October 21st. Following this, movement within the channel is perhaps best described as the WXY corrective structure. This build was tall enough to suggest that the fall might be final. If so, this could indicate that APT is about to exit the channel, leading to an increase in price. According to analyst Alyz, the level this indicates is $11.42 on average.
APT forecasts
APT was on almost every analyst’s radar this week. In particular, Adrian Fritz, one of 21Shares’ research experts, pointed out that Sui and Radix, like Aptos, are gaining momentum. Each of these Blockchains uses the Rust software language. Fritz says observers are more interested in these projects.
Another market researcher, Riyad Carey, said the APT price is rapidly approaching $12. However, some problems for altcoin should not be ignored. Alongside the high-reward airdrop, details of the token economy released immediately after the token sales caused concern. However, APT price still retains most of its earnings. As Kriptokoin.com, we have discussed the latest developments from Aptos in this article.
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