Aptos (APT) price prediction: targeting the $6 level if the 50-day EMA and 100-day SMA are flipped

Gate News, as Layer1 (L1) Block chain launches its Decentralization hot storage Shelby, Aptos (APT) rose 12% on Tuesday, aiming to bring high-performance data on chain to unlock new forms of internet applications, content flow, and artificial intelligence (AI) reasoning.

Aptos Labs collaborates with Jump Crypto to launch Shelby, a hot storage of Decentralization designed to transform static data into dynamic, readable, and on-demand content.

Aptos Labs said in an article released on X on Tuesday: "Shelby is driving the transformation of the digital economy. It breaks the cold data model, allowing stored content to be streamed, priced, and bundled in real time."

Aptos Labs claims that Shelby is challenging the dominant position of data monopolies by introducing high-performance data infrastructure on-chain. The company believes that Shelby's ability to handle larger-scale data may be the key to empowering 'new' digital assets.

In addition, Aptos stated that Shelby enables developers and creators to instantly transmit, provide data, and monetize data without sacrificing speed, control, or ownership. Aptos claims to achieve this goal through a cost-competitive method that leverages a Decentralization cloud system, including dedicated fiber optics, audit protocols, and coding schemes. Additionally, Aptos also plans to acquire high-value data by rewarding nodes that provide data.

Aptos added, 'This forms a flywheel: use creates value, value creates assets, assets attract capital, and capital drives innovation. This is the way Web2 expands. With Shelby, Web3 can eventually achieve the same.'

Shelby will use Aptos as its early settlement layer, but reportedly it is not related to the Blockchain, meaning it can run on any Blockchain.

In addition to collaborating with Jump Crypto, Aptos Labs also claims to have contributed to the NFT infrastructure protocol Metaplex and Story Protocol, which focuses on Web3 intellectual property management.

APT Price Analysis

FXStreet analyst Michael Ebiekutan stated that APT is testing the upper boundary of a critical downward channel, supported by the 50-day Exponential Moving Average (EMA) and the 100-day Simple Moving Average (SMA). Previously, APT rebounded from the lower boundary of the downward channel to $3.76, marking the lowest level since January 2023.

If APT breaks through the resistance at $5.73 and firmly surpasses the moving average indicator, it is expected to test the level of $6.15. However, if APT falls below the resistance at $5.73, it may drop to $3.76.

The relative strength index and stochastic oscillator (Stoch) have broken through the neutral level, indicating that the pump trend is rising.

If the daily closing price of the K-line is below $3.76, the argument will be invalidated.

(Source: Trading View)