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- 1 The Aptos is at the major support and might rally upwards; showing signs of strength on charts.
- 2 The price of the Aptos is $5.13 and an intraday gain of 1.58% is observed.
- 3 Aptos has partnered with NBC Universal to give a unique fan experience.
Aptos is a blockchain that uses a new type of smart contract language called Move, which is based on Rust and was created by the engineers of Diem, a blockchain project led by Meta (formerly Facebook).
As per the Aptos Labs itself on the CoinMarketCap website on October 13th, which has teamed up with NBCUniversal. To create a unique fan experience for the upcoming remake of the classic horror film, The Exorcist.
Therefore, the partnership with NBC Universal and the fan experience for The Exorcist could have a positive effect on the Aptos price in the short term and long term.
As per the price action the crypto price has seen lot of downward decline in the whole year, which triggered bearish lower lows and high structure.
Moreover, in the past month the price has risen 0.87% and in one week it has risen 6.24%. This highlights that the collaboration is might be trying to impose some positivity in the crypto. The positivity displayed is just by news, if the movie after release gets success then their might be a bull run ahead in the future as well.
At the time of publishing, Aptos (APT) is trading in between the 20 and 50-day EMAs (exponential moving averages). If more buyers accumulates in APT then it might conquer above rejecting levels.
The current value of the RSI is 50.25 points and the 14-day SMA is below the median line at 40.22 points, and took support from 14 SMA.
The MACD line at 0.09 and the signal line at 0.11 is above the zero line both lines cross each other showing a bullish crossover in APT and the histogram is broadening which shows that the price is turning bullish.
Conclusion
The APT price is anticipating an upward trend and the possibility of an upcoming rally at the time of writing. The technical indicators of the Aptos price are pointing strongly towards the bullish direction, implying that the APT price may continue to incline from support, if it succeeds in gathering more buyers on the daily chart.
The Aptos price also reflects the optimistic outlook and expectations of the investors and traders regarding the price on the daily chart.
Technical Levels:
- Support levels: The nearest support levels are $4 and $3.
- Resistance levels: The nearest resistance levels are $6 and $7.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
