Aptos ($APT) and Kaspa ($KAS) in the green – ready to go higher?
The post Aptos ($APT) and Kaspa ($KAS) in the green – ready to go higher? appeared on BitcoinEthereumNews.com.
The crypto market has been in a corrective phase for the last couple of days. However, both Aptos ($APT) and Kaspa ($KAS) have bucked this trend. Can both these cryptocurrencies lead the rest of the field into the next upturn? $APT makes steady gains Source: TradingView The $APT (APT/USD) price has moved steadily higher since dipping below the strong horizontal support on the 1 October. Since then, a series of higher highs and higher lows have led the price to a gain of more than 55%. The price is currently within an ascending wedge, which would be more likely to break to the downside. However, should the price break out to the upside, this would be extremely bullish. $APT faces potential rejection against $BTC pair Source: TradingView Nevertheless, for an altcoin to be seen as a longer term hold, it needs to outperform its $BTC pair (APT/BTC). Since its inception in 2022, the $APT price had one towering gain of 374% against $BTC in early 2023. However, since then the price has lost all of these gains. Currently, the $APT price is fighting back, making 88% since its low against $BTC. Nevertheless, a strong band of resistance is rejecting the price from above, and the Stochastic RSI has recently crossed down, signalling a potential end to upside price momentum. $KAS has a lot to do to reverse downtrend Source: TradingView The $KAS (KAS/USD) price is technically still in a downtrend. However, it has recently broken upwards through a descending trendline, which may lead to a definitive break of the overall downward trend. The shorter term targets for $KAS are displayed by the Fibonacci levels in the chart above. If the $KAS bulls can push the price to the last Fibonacci level at 0.786 ($0.167), the last local high…
Filed under: News - @ October 22, 2024 7:26 pm