Tangem Wallet Pack of 2 - Secure Crypto Wallet - Trusted Cold Storage for Bitcoin, Ethereum, NFT's &

Tangem Wallet Pack of 2 - Secure Crypto Wallet - Trusted Cold Storage for Bitcoin, Ethereum, NFT's &
Key item features Ultimate Security: Generates a private key that remains on the card, safeguarding crypto and NFTs from hackers with EAL6+ certification and audited firmware. Versatile Compatibility: Manages over 13,000 tokens across 70+ blockchains, supporting DeFi, NFTs, and DeEx without wires, Bluetooth, or USB. Effortless Operation: Utilizes NFC for secure transactions via a mobile device and the Tangem app, enabling buying and selling crypto with various payment methods. Smart Backup: Features a second Tangem Wallet as a backup, eliminating the need for paper, pictures, or seed phrases for recovery. Durable Design: Boasts IP68 protection against environmental conditions, ensuring longevity and robust physical security. Comprehensive Support: Compatible with Bitcoin, Ethereum, Solana, XRP, USDT, and over 6,000 cryptocurrencies, integrating with dApps and WalletConnect.

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Bulls Against The Ropes, Why Aptos Is At Risk Of Crashing To $7

The cryptocurrency of the hour, Aptos (APT), is losing bullish momentum and heading for a correction. Dubbed a “Solana Killer,” the APT token was launched last week, attracting the attention of market participants. 

The hype around APT generated over $150 million in Open Interest, $3 billion in futures volume, and $1 billion in spot volume in less than a day. At the time of writing, Aptos trades at $8.70, with a 10% loss in the last 24 hours alone. 

Aptos Stepping Into The Danger Zone

As seen in the chart below, APT’s price hit an all-time high of $10.2 before crashing into its current levels. The cryptocurrency has been trading sideways in a tight channel over the past two days, but the price action hints at further downside pressure. 

Aptos APT APTUSDT Chart 1
APT’s price trends lower on the 4-hour chart. Source: APTUSDT Tradingview

According to a pseudonym analyst, Aptos sits at critical support north of $8.11. If the token fails to hold its current levels, the price might return to the pre-rally region. 

As seen in the chart below, this downside move could retrace APT’s price back to the $7 region. If that zone operates as support, the token might prevent more downside and follow the general sentiment in the market, which hints at bullish momentum. 

Otherwise, the next support area is around $6.7, possibly lowering its launch levels. The pseudonym analyst said the following about APT’s price action and the crypto market in general:

APT Bounce here, or it’s heading down to the green zone, I reckon (…) A lot of assets, including $BTC & $SPX, are breaking above the 4H 200MA & EMA’s. This tends to be a good indication of a low to mid timeframe reversal. Of course prices do have to hold these levels in case of a retest to confirm such a reversal.

Aptos APT APTUSDT Chart 2
APT’s price sits at the bottom of a channel. Will it bounce? Source: DaanCrypto
Can PancakeSwap Save APT’s Price?

Traders betting on further downside pressure should be wary; current support levels might hold solely on cryptocurrency-generated hype. In addition, the team behind PancakeSwap will launch this protocol on Aptos.  

The implementation will include PancakeSwap’s native token CAKE, with the potential to onboard its users. The team behind the crypto exchange said:

Aptos is the first blockchain which PancakeSwap will be fully integrated with. PancakeSwap will be deploying its CAKE token natively on Aptos along with its key products, making the CAKE token truly multichain for the first time (…). Additionally, Aptos and PancakeSwap users and projects will be able to enjoy all the core beloved products of PancakeSwap such as Swap, Farm, Pools and IFO.

It remains to be seen if this exchange implementation on Aptos will persuade PancakeSwap users to adopt the platform.



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