Aptos (APT) price is trading in a very mathematical way as both descending and ascending trendlines cross one another at $8.06. At that same price tag, a pivotal horizontal level can be detected, and it could mean big trouble ahead once broken. With bulls having defended both levels, a breakdown would leave them all exposed and result in a decline big enough that APT will start trading sub-$7.
Aptos price is set to enter an ugly phase on the chart as selling pressure is not easing at the moment. Bulls are at risk of becoming exposed, should bears push price action below $8.06. A brutal leg lower could amount to another 15% loss. Although the Relative Strength Index (RSI) points to a small rebound, it could well be just a drop on a hot plate.
Vitalik Buterin, the co-founder of the largest smart contract blockchain network, published on Sunday a warning against the risks of overloading the Ethereum consensus layer. While Buterin is in favor of a dual use for staked Ether, the Ethereum co-founder warned against the use of the ETH consensus layer for layer-2 applications.
In a blog post, Buterin said that using the consensus layer for re-staking and soft forks could bring high systemic risks, leaving the Ethereum blockchain vulnerable.
Bitcoin price is at a stage where if history repeats, it could catch investors off guard. Bulls are likely being set up for a trap, which will cause massive liquidations for holders of Ethereum (ETH), Ripple (XRP) and other altcoins.
Bitcoin price action over the last two months is reminiscent of the moves that occurred between January 20 and March 1. The repeating pattern is termed fractal and can be seen even in the Relative Strength Index (RSI) and Awesome Oscillator (AO) momentum indicators.
