BitTorrent (BTT), FTX Token (FTT) and Aptos (APT Coin) saw notable price movements today. These tokens are notable for their market activity. BTT rose nearly 6 percent on the day, forming a bullish ‘golden cross’. FTT rose 4 percent amid rumors about its former CEO. APT is recovering from its recent decline, rising over 4 percent. Crypto analyst Tiago Amaral breaks down these 3 tokens.
The first-ranked altcoin: BitTorrent (BTT)
On the BTT chart, the shortest-term EMA moved above the longest-term EMA. Thus, it formed a ‘golden cross’, a bullish signal. This suggests that the potential upside momentum continues. In the last 24 hours, BTT has risen by about 6%. Also, the trading volume increased by 170% to $130 million. Its market capitalization currently stands at $1.25 billion and ranks among the top 100 altcoins. If the uptrend continues, BTT could test resistance at $0.00000132. A break above this level would push the price towards $0.00000144 and potentially $0.00000159. Increased trading volume indicates increased interest. This further supports the upward movement if the momentum continues.
However, if the trend reverses, BTT is likely to retest the support at $0.00000123. A break below this level opens the door to declines towards $0.00000117 and $0.00000111
The second-ranked altcoin: FTX Token (FTT)
FTT has been in the spotlight following rumors that former FTX CEO Sam Bankman-Fried may be considered for a presidential pardon. In the last 24 hours, FTT has risen nearly 4%. This pushed its market capitalization above $1 billion to $1.1 billion. The FTT price chart shows an attempt to form a ‘golden cross’, a bullish signal that could revitalize the upside momentum. If successful, FTT could test resistance at $3.57. A break of this level would open the door to further gains towards $3.88 and even $4.03.
However, if the trend reverses, FTT is likely to retest its support at $3.23. A break below this level could push the price as low as $3.10. It also has the potential to fall as low as $2.64 if selling pressure intensifies.
Aptos (APT Coin) is in last place!
APT Coin is showing signs of recovery after a difficult period. Its price dropped 25% between December 20 and January 1 due to the resignation of its former CEO Mo Shaikh. In the last 24 hours, APT has risen by more than 4%. Also, the trading volume increased by 61% to $466 million. Currently, APT Coin has a market capitalization of $5.8 billion. It is also among the top 30 altcoins. APT’s shortest-term EMA line is rising sharply. This also points to the potential for a ‘golden cross’ pattern. If this bullish indicator materializes, it is possible that APT Coin price could test the resistance at $10.93. Also, a successful breakout could push the price towards $12.3 and $13.
However, if APT fails to break the resistance at $10.93, the trend reverses. This could put downward pressure on the price. In this scenario, APT could retest the support at $9.95 and a break below this level could lead to further declines towards $9.33 and $8.42.
The opinions and forecasts in the article are those of the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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