Is It Too Late to Buy Aptos? APT Price Shoots Up 20% After Microsoft Partnership and This New Meme Coin Secured $250,000 in Funding
In a major move for emerging layer-1 blockchain Aptos, the price has shot up +20% following news of a new partnership with industry giant Microsoft.
Aptos revealed they are expanding tools and services on the blockchain using Microsoft's (MSFT) artificial intelligence technology.
This includes plans for an Aptos assistant chatbot that will act as a customer service function for the Aptos ecosystem, providing support to developers building smart contracts and dApps through the power of Microsoft Azure.
With strong fundamental headwinds fuelling price action, APT is trading at a current price of $7.38 (a 24-hour change of -0.31%).
The +20% move to the upside comes amid weeks of bleak price action, which saw Aptos lose -14.5% after falling away from 20DMA support on July 24.
But with the price now trading high again following the push up, APT has reclaimed critical support from the 20DMA - leading some to speculate whether the latest retracement move is over.
Topside trendline resistance saw this week's rally top out around $8.00 - highlighting this as a key price level to watch as APT continues to target an upside movement.
However, Aptos indicators provide some cause for concern, with the RSI now displaying bearish divergence at 58.38 in a strong 'oversold' signal that could demand a period of consolidation.
Yet, the MACD remains bullish, with divergence at 0.047 bolstering the confidence of bag holders.
Upside potential remains targeting a retest of resistance at $8.00 (+8.4%) and downside risk remains minimal with newfound support from the 20DMA at $7 (-5.15%).
This leaves Aptos facing a risk: reward entry of 1.63, a bullish entry, with mileage to run yet.
However, APT isn't the only token on the move, as investors have flocked to
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