Foreign media analysts are optimistic about two currencies: $APT and $INJ

Bitcoin has risen sharply this week. As of this morning (18th), it once again challenged the $68,000 mark and is currently quoted at $68,034. The rising tide of Bitcoin has also driven many altcoins, and currency circle foreign media (BeInCrypto) named two coins worthy of attention this morning: Aptos ($APT) and Injective ($INJ), and provided key Support and resistance level analysis.

Injective ($INJ): surges after being listed on Upbit

(BeInCrypto) On-chain analyst Abiodun Oladokun pointed out that Injective ($INJ) hit a 16-day high last Thursday, reaching $23.09, and the reason behind it was the listing of South Korean cryptocurrency exchange Upbit.

Oladokun noted that while $INJ had a 7% retracement after hitting its highs and is currently trading at $21.39, bullish sentiment remains strong.

Judging from the MACD indicator (Exponential Moving Average Convergence and Divergence), the MACD line (blue line) is currently above the signal line (orange line) and the zero axis, which means that the short-term moving average is significantly higher than the long-term moving average, and the market momentum is positive.

Figure source: BeInCryptoInjective ($INJ) MACD indicator changes

Additionally, $INJ’s open interest increased by 19% in the past 24 hours to $95.17 million. It represents the inflow of new funds into the market and traders are actively opening positions, confirming signs that the bullish trend is strengthening.

Figure source: BeInCryptoInjective ($INJ) changes in open interest volume

$INJ Price Prediction

Oladokun noted that key resistance for $INJ lies at $22.01. If the bullish momentum continues and a successful break above this resistance is achieved, it could spark a 54% rally that could push the price to $33.38, the highs seen in June of this year.

But Oladokun also warned that $INJ could fall to $15.79 if profit-taking increases. Failure to hold this support could lead to a further decline towards $13.50.

Aptos ($APT): RSI has not reached overbought territory yet

Aptos ($APT) is up 24% in the past seven days, noted Tiago Amaral, another analyst at (BeInCrypto). Despite the impressive recent gains, technical indicators are starting to send mixed signals.

Amaral is paying particular attention to the Relative Strength Index (RSI), which currently stands at 53.75. This is down from 76 four days ago, indicating that the current bullish momentum is weaker than the recent peak. However, the current RSI still shows a neutral-to-bullish outlook.

He further explained that the RSI value of 53.75 represents that although the recent rally has occurred, the market has not yet been overextended, indicating that there may still be room to rise because the RSI is still well below the overbought zone.

Chart source: BeInCryptoAptos ($APT) RSI index changes

On the other hand, the Ichimoku chart for $APT shows that the price is currently above the green cloud (Kumo), and the green line has also surpassed the red line, reinforcing the bullish sentiment.

In addition, the conversion line (Tenkan-sen) is slightly above the base line (Kijun-sen), but shows a converging trend. If the conversion line crosses the base line downward, it may imply a trend reversal or a weakening of the bullish momentum.

Source: BeInCryptoAptos ($APT) Ichimoku Balance Sheet Trend

$APT Price Prediction

According to Amaral’s analysis, the future trend of $APT remains optimistic. If the current uptrend continues, a push to $14.42 is possible. A break above this resistance would allow a further climb to $17.89, the highest since April 1 this year, which would give APT a 76% gain, demonstrating strong upside potential.

Once the trend reverses, $APT is likely to test the $8.45 support and possibly even drop to a low of $7.86.

[Disclaimer] There are risks in the market, so investment needs to be cautious. None of the above views constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.