Bitcoin and other crypto tokens posted strong gains on Monday as the bullish momentum in the crypto markets continued over the weekend. Possible spot bitcoin exchange-traded fund (ETF) approval in the US pushed the momentum higher in the digital asset market, which was cheered with all-round buying interest.
Aptos (APT), trading above its 50-day exponential moving average, is in an ascending trend. The asset has broken above the previous key resistance of $5.5 and is currently experiencing a rally, due to wider positive sentiment in the market.
Image: Chart-APTOS
After successfully breaching the upper limit of the flat bottom pattern on Saturday, APT was able to sustain support and has entered the accumulation phase. It faces immediate resistance at $6.65 with next resistance at $7.61. Its 14-day RSI remains overbought, and is currently around 75. These values suggest that the bullish break may continue in the near term. On the down side, $5.27 is the key support level.
Major Levels:
Support: $5.27, $4.68
Resistance: $6.65, $7.61
(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
This news is republished from another source. You can check the original article here