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Popular cryptocurrency Aptos (APT), which currently sits at number 19 on the cryptocurrency market cap rankings, is seeing a major development on its price chart, and it is bullish. We are talking about the golden cross - an intertwining of the 200-day and 50-day moving averages, where the smaller crosses the larger in an upward direction.
The pattern itself is rare, and what makes it even more special in the case of Aptos is that it is the first golden cross for the APT token since Dec. 1. Back then, the price of Aptos soared 175% over the next 118 days, starting at $6.66 and peaking at $19.35 per APT.
Godfrey BenjaminWhen the reversal occurred and the 50 MA crossed the 200 MA, forming the so-called death cross, the price of the Aptos token was $9.34, still 33% higher than when the golden cross was formed.
If that is still the case and the price of APT can repeat itself, the outcome in 2023 remains to be seen and is pure speculation. But the fact is that the golden cross is there, and Aptos has a positive history with this pattern.
Can Aptos (APT) repeat success of Solana (SOL)?
The price of APT is now $10.88. Since the beginning of the year, the token of the blockchain of the same name, once dubbed the "killer" of Solana, has only gained 15.91%.
Some might call this a great result, but if we compare Aptos and Solana, which it was supposed to "kill," the difference is 50%, and this creates an opportunity for APT to prove its ambitions.
Gamza KhanzadaevAs the common dogma of the crypto market says, the growth of the token's price is the best marketing.
Godfrey Benjamin
Arman Shirinyan
Vladislav Sopov
Dan Burgin