Cooperation with Microsoft has increased the value of Aptos cryptocurrency by 15% per hour

Yesterday, on August 9, Aptos Labs announced a partnership with Microsoft. As part of the partnership, Aptos Labs will introduce the Aptos Assistant service, which will help Internet users transition from web2 to web3.

Aptos and Microsoft will jointly develop solutions related to tokenization and central bank digital currencies (CBDCs), thereby promoting the implementation and popularization of web3.

The news of the partnership allowed the APT digital token to grow by 15%. By the way, the crypto asset is still rising in value. At the time of writing, the cryptocurrency is trading at $ 7.29, a daily increase of more than 9%. The total supply of coins on the market is $ 1.6 billion, and daily trading transactions exceeded $ 737.2 million.

Technical analysis on the daily timeframe shows that on July 1, the APT price broke through a descending resistance line that had been forming for 155 days. However, APT failed to develop an upward movement. Having pushed off from the resistance at $ 8, the coin’s rate fell below the breakout level. This happened despite the fact that after the integration with Chingari, the number of daily active Aptos users increased by 800%.

However, on August 9, APT began another upward movement and is currently trading near $ 8 again. A breakthrough of this resistance will ensure a 65% increase in the cryptocurrency to the next important mark of $ 13.

The Relative Strength Indicator (RSI) on the daily chart confirms the possibility of further growth of the digital asset. Its value is above 50 and growing — these are signs of a bullish trend. Thus, the APT price is likely to break out and reach the desired resistance level of $ 13.

Despite the bullish signs, the APT price outlook will remain bearish if the price fails to break the $ 8 resistance area. A pullback could lead to a 27% drop in the virtual coin to the horizontal support area at $ 5.70.