Aptos (APT) and SEI have recorded some of the hottest cycles of the past few months, landing themselves in the must-watch list of all traders and investors. As a layer-1 blockchain, Aptos provides strikingly high throughput and low transaction fees. Over the last week, it has experienced a weekly uptick of 10.63% and a monthly explosion of 21.05%. At the same time, SEI shows significant volatility as traders begin to evaluate their positions in the market. From the lows, these movements indicate a changing competitive landscape for both cryptocurrencies.
The first of these dates has passed, but Aptos is now trading between $3.99 and $5.55. The cryptocurrency is met with short-term resistance close to $6.22 which could prevent further bullish price action. If Aptos is able to overcome this level, there is another resistance level around $7.78.
Aptos’ first significant support level lies at $3.10. A deeper floor has been carved out just over $1.53, which offers a stronger potential safety net from further declines. Key support and resistance defined Aptos’ trading range. Traders watch these levels intently to determine where price may breakout of or breakdown through the range.
Inspite of the recent gains, Aptos is down 37.75% in the last six months. That longer-term downtrend just underscores how wild and unpredictable this cryptocurrency market is. That said, Aptos has a steep hill to climb to keep the positive momentum going. The flip side short-term gains with longer-term losses jump out as a bilateral opportunity, leaving an unclear landscape for investors.
SEI is now trading in a $0.18 to $0.36 price range. The nearest resistance for SEI is at approximately $0.44, making it difficult to gain meaningful price appreciation beyond that level. Beyond this, another obstacle lies at around $0.61.
On the negative side, SEI has a crucial support level at around $0.08. This level is important to avoid big corrections in price.
The Relative Strength Index (RSI) for SEI is 66.45. This means the crypto is nearing overbought levels. An RSI reading above 70 is generally viewed as an indicator that an asset is overbought and maybe it’s time for a correction.
The art of SEI and Aptos moves show us what’s hot and what’s not in the altcoin crypto world today. Investors and traders are keenly observing these cryptocurrencies to understand the potential for further gains or the risk of corrections.
The technical analysis suggests a cautious approach. Above all, traders need to pay attention to the important key levels and indicators to make the best decisions possible.
