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The Aptos price displayed strength on Tuesday with 6% gains in the past 24 hours to trade at $5.22 as of 5:00 a.m. EST.
APT is the sixth-best performer among the top 100 cryptocurrencies by market capitalization, having gained an impressive 15% over the past week and 30% over the last 30 days. The latest rally has seen this Layer 1 token hit its highest since mid-August.
THORChain (RUNE) led the gains with a 17% increase over the last 24 hours to trade at $2.91. BitTorrent (BTT) came in second after rising 11% over the same timeframe. Arweave (AR), Cosmos (ATOM), and Solana (SOL) closed the top 5 biggest crypto gainers today after rallying 9.21%,8%, and 6.8% respectively over the same timeframe.
Top Cypto Gainers Today
The latest recovery in the digital asset market, which has seen APT rally over 50% from its Oct. 11 lows around $4.7, has seen its market cap rise back above $1.7 billion, overtaking Hedera (HBAR) and Filecoin (FIL) to take position 31 on the CoinMarketCap ranking.
Aptos 24-hour trading volume has also seen a significant leap, rising more than 106% to $210 million, making it the 26th most traded crypto according to data from CoinMarketCap.
As APT continues its bullish trajectory, crypto analysts are becoming optimistic about its sustained recovery. Crypto analyst going by the name @cryptoknight890 on X acknowledged the recent breakout in the Aptos price saying that it was primed for a significant move upward.
$apt breakout done ✅
on the way to 9$ https://t.co/3LSkJcAWok pic.twitter.com/sOGSTOyl0z
— CRYPTO KNIGHT $INJ TO 100$ (@cryptoknight890) October 31, 2023
According to this analyst, the demand area between $5 and $6 provides the hindwings required to extend the ongoing recovery in the Aptos price toward $9 or $10.
Aptos Price Upside is Intact as Bulls Eye Gains to $10
The APT price shattered the resistance at $6.9 during the early Asian trading session on Tuesday to break out of a pennant. This projects a 10% rise toward the optimistic target of the pennant at $7.56.
However, this target could be achieved sooner than expected, and greed may grip buyers causing them to push the proof-of-stake token higher. The ensuing buying pressure would see APT rise to confront resistance at $9.2 before moving higher to tag the $10 psychological level. This would represent a 40% ascent from the current price.
APT/USD Daily Chart
The positive prediction in APT price is supported by a robust bullish daily candlestick painted today, which is a positive sign for investors. After two days of low volatility and consolidation above the 20-day EMA, the Aptos price seems to have gathered momentum.
Looking at the technical indicators, the 20-day EMA stands at $6.55, slightly above both the 50-day EMA of $6.12 and the 100-day EMA of $5.78. This scenario typically signals robust support that the token enjoys on the downside, further substantiating the upward thesis for Aptos.
The APT price’s RSI has also indicated a bullish sentiment, rising to 74 from yesterday’s 69. While this signifies strong buying pressure, it also cautions of a possible overbought market.
Investors should be prepared for potential short-term pullbacks as the market may attempt to correct this overbought state.
Immediate support for the APT price lies at the upper boundary of the pennant at $6.9, followed by the demand zone between $6.55 and $5.5 defined by the moving averages.
Rather than relying solely on large market cap cryptocurrencies, investors could look into developing projects in presale with the aim of diversifying their portfolios.
Presales provide exclusive early access to purchase new cryptocurrencies before public launch and exchange listings. This allows investors to buy tokens at discounted presale prices compared to costs after full release.
APT Alternatives
TG.Casino (TGC), a new crypto casino built on Telegram, is seeing a rush of investor interest in its ongoing token presale. TG.Casino integrates casino games and betting into the popular messaging application, Telegram.
TG.Casino’s presale has already raised over $1.58 million so far from early backers
Can’t believe we hit $1.5 million raised in presale👏 👏
TG Casino is reaching new heights every day! $TGC pic.twitter.com/inIywJOu9q
— TG Casino (@TGCasino_) October 26, 2023
Unlike many crypto projects, TG.Casino already has a working product with its Telegram casino bot.
This separates it from other offerings that rely on trust that the team will build out the platform post-investment.
Users can already access the casino, bet with $TGC, and earn staking rewards of up to 348.5% APY on their holdings.
The project draws comparisons to crypto gambling platform Rollbit and its RLB token, which pumped more than 106% when a buyback program was announced.
TG.Casino believes Telegram integration gives it an advantage over first-generation crypto casinos. Telegram has 700 million monthly active users, though most are currently crypto novices.
There are two types of gambling…$TGC pic.twitter.com/rnbi7Bah7e
— TG Casino (@TGCasino_) October 25, 2023
By providing an easy entry point to crypto gambling within a familiar app, TG.Casino can onboard a whole new demographic of users who may be interested in exploring crypto but need a simplified, beginner-friendly experience to get started.
With presale demand rising as the price increases incrementally toward a $5 million hard cap, early buyers have an opportunity to get ahead of the crowd.
The token launch could see the $TGC price gain substantially based on circulating market capitalization valuation models.
Visit the TG.Casino presale website here for more information.
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