Why These Altcoins Are Trending Today — January 7

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Today, there’s a lot of buzz surrounding BitTorrent (BTT), FTX Token (FTT), and Aptos (APT) due to significant price fluctuations and active market engagement. Notably, BTT has seen an approximately 6% increase over the past 24 hours, which has led to a bullish golden cross formation on its chart. Additionally, there’s been a substantial 170% jump in trading volume for BTT, reaching a staggering $130 million.

The stock FTT has surged by 4% today, boosted by whispers about its ex-CEO and on the brink of a ‘golden cross’ which might trigger more price increases. Concurrently, APT is bouncing back from a slump, soaring over 4%, as its short-term Moving Average Expresses Momentum (EMA) hints at a possible burst through crucial resistance points.

BitTorrent (BTT)

BTT has just experienced a golden cross, a positive indicator where its short-term moving average moved above its long-term moving average. This suggests possible continued growth in the coming days. Over the past day, the value of BTT increased by almost 6%, and trading volume skyrocketed by 170% to reach $130 million. As a result, BTT now holds a market cap of $1.25 billion, positioning it among the top 100 cryptocurrencies in terms of market value.

If the positive trend persists, Binance Coin Token (BTT) may challenge the resistance at 0.00000132 USD. Should it breach this point, it might propel the price toward 0.00000144 USD and even reach 0.00000159 USD under strong momentum. The escalating trading activity indicates growing investor attention, which could bolster further upward trajectory if the trend maintains its strength.

If the trend changes, there’s a possibility that BTT might revisit its support at $0.00000123. Falling below this point could potentially trigger drops towards $0.00000117 and even $0.00000111.

FTX Token (FTT)

In recent discussions, FTT has garnered interest due to whispers that Sam Bankman-Fried, the ex-CEO of FTX, could potentially receive a presidential pardon. Over the last day, FTT’s value has increased by around 4%, causing its market capitalization to surge past $1 billion, sitting currently at approximately $1.1 billion.

The price trend of FTT appears to be trying to create a golden cross, which is a positive sign that may rekindle its upward trajectory. Should it be successful in forming the golden cross, FTT might challenge the resistance at $3.57. Overcoming this barrier could potentially push it towards $3.88 or even $4.03.

If the golden cross doesn’t occur and the market trend changes, FTT may need to revisit its support at $3.23. Dropping below this point could cause the price to fall even more to around $3.10. If selling pressure increases significantly, there’s a possibility of a further decline to approximately $2.64.

Aptos (APT)

After experiencing some tough times, APT appears to be on the mend. The price dipped by 25% from December 20th to January 1st following Mo Shaikh’s resignation as CEO. However, in the last 24 hours, APT has seen a rise of over 4%, and trading volume has significantly increased by 61% to approximately $466 million. At present, APT boasts a market capitalization of around $5.8 billion, positioning it among the top 30 cryptocurrencies (altcoins) in terms of value.

The short-term Exponential Moving Average (EMA) of APT is climbing steeply, which suggests a possible golden cross formation could occur. If this bullish prediction becomes reality, the APT price may challenge the resistance level at around $10.93. A successful breakout might push the price upwards towards approximately $12.3 and potentially even to $13.

If APT doesn’t manage to surpass the resistance at $10.93, there’s a possibility that the trend could switch, leading to potential downward pressure on its price. Under such circumstances, APT might revisit the support level at $9.95. If it falls below this level, it could trigger additional drops, potentially reaching levels as low as $9.33 and $8.42.

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2025-01-07 21:07