Get up to date on the latest analysis and trading tips with our Crypto update week 4
APT Astounding BreakoutGMT Experiences Channel Breakout!Optimism Token Reaches New All-Time HighKCS Rebounds!
Aptos (APT) made an astounding breakout and reached its highest price since it debuted. Let’s see what happens next!
The details: The previous highest price APT reached was $10.3 in October 2022. Last Friday, APT broke above that, and on Sunday, it reached a high of $14.55. This is almost 45% more than the previous all-time high, which is significant, to say the least. Overall the price is nearly 400% higher from its low in December.
When APT reached its previous all-time high, Bitcoin was priced around $21,000-$22,000, which is around the same price it is now. However, APT is currently outperforming Bitcoin by being almost 45% higher.
How high can the rally go?
While the rally has been going on for some time, it can continue even more. When it comes to cryptocurrencies, altcoins can have longer rallies, anywhere from 500% to 10,000%. For that to happen, we need a bull run.
If Bitcoin continues its current run, there is no telling where the rally will end. However, since APT is currently the 30th most valuable coin, it is less likely that we will see something close to 10,000%.
If the opposite happens and APT starts retracing, we have two major support levels that may hold the price. The first one stands at $10, which is a previous all-time high. The second is at $3, the lowest price the coin reached.
STEPN (GMT) has been in a strong downtrend since April 2022, losing 95% of its value. The coin has been caught in a descending channel since August 2022. However, it managed to break out of the channel 10 days ago. Let’s take a look at what happens next!
The details: After breaking out of the channel, GMT rose by an additional 75%. It is up 27.91% today alone! Usually, when coins have a big day, they continue their momentum further. Therefore, we will likely see this rally continue.
The rally has been explosive overall. GMT gained 183% since the start of the year, making this the most significant bull move since it started its bear run in April 2022. The previous bull move occurred in June last year when the coin experienced a 116% rally in 38 days (significantly worse than this one).
What happens next?
However, prior to this, between March and April 2022, GMT experienced an astonishing 3,000% rally in 45 days after it debuted. Considering that GMT is currently only the 89th most capitalized coin, it is possible that it will continue its strong move, provided Bitcoin continues its current rally as well.
That is because altcoins follow in Bitcoin’s footsteps. If Bitcoin rises, altcoins follow it. However, the extent to which they follow Bitcoin can differ. GMT may make an even stronger move to the upside than Bitcoin in this case.
The cryptocurrency token Optimism has reached a new all-time high; let’s see what happens next!
What is Optimism? Optimism (OP) is a cryptocurrency built on the Ethereum blockchain. It is a new type of token used to pay for transactions on the Optimism layer 2 scaling solution for Ethereum. The Optimism protocol allows for faster and cheaper transactions by moving most of the computation off-chain while still maintaining the security and decentralization of the Ethereum mainchain.
Optimism Reaches All-Time High
OP recently reached its all-time high, causing excitement among investors and traders. The success of OP can be attributed to the growing interest in decentralized finance (DeFi) and the increasing use of the Ethereum blockchain. As more and more projects are built on the Ethereum blockchain, the demand for efficient and cost-effective scaling solutions like Optimism will only continue to grow.
Since Optimism has never reached this price before, it is impossible to say exactly where the price will go. According to the Fibonacci retracement, the next target for OP could stand around $3. According to a Fibonacci retracement, the last target of this rally stands around $3.60. We have seen rallies in the past that went above even the wildest predictions of the Fibonacci, however, these runs normally occur during a strong market bull run.
If, on the other hand, OP starts falling, there are a few different support levels that the token can count on. The first support level stands around $2.00, which is the previous all-time high. Another support level stands between $0.70-$0.80, which is around the coin’s lowest point.
Kucoin rebounds from its current bear run, let’s see what happens next!
What is KCS? Kucoin (KCS) is the native token of the KuCoin exchange. It is used to pay for trading fees on the exchange, and holders of KCS also receive a share of the trading fees generated by the platform.
Kucoin Rebounds, What Now?
KCS recently rebounded from its bear run, causing excitement among investors and traders. The current rally led to nearly a 50% increase in value, which is a significant achievement for the token.
As KCS continues its rally, there are multiple resistance levels that it may encounter, such as $8, where it currently sits. Once the current resistance level breaks, the following levels are: $10.50, $15, $18, and $22. The last resistance level stands at $28.837, which is the last all-time high. These resistance levels can provide a good indication of where a rally may stop or pause.
It is also important to note that the 200 EMA has acted as a mobile support and resistance since May 2022.
In case the rally fades away and KCS starts falling again, it could fall to $6, which was the lowest level KCS hit during the last bear market. Therefore, the $6 support is likely to hold.
Looking Ahead: If Bitcoin continues its rally, it is likely that altcoins will do so as well. KCS has several resistance levels where the rally may be temporarily halted. However, in the big bull run coming in 2024–2025, they will likely all be broken.
