Apollo Currency (APL) is in a significant uptrend. After rising 410%, Apollo is ready for the next upward move.
APL surged up to $0.007126, where it faced significant resistance. Since then, APL has been in a steep correction that might come to an end very soon.
Currently, APL finds significant support at the 50-day-EMA at $0.03393, and if it holds successfully, Apollo could reach its previous high at $0.0075 again. Moreover, the histogram of the MACD is ticking bullishly higher, while the RSI gives no bearish signal.
On the 4-hour chart, APL could form a death cross very soon, pulling APL's price further down. In this case, APL finds essential support at $0.0023 and $0.0015. However, if Apollo continues its upward movement, the chances of a death cross decrease significantly.
With a current market capitalization of around $70 million, Apollo Currency is a relatively small defi platform with plenty of room for growth. The Defi platform recently launched its Knox Wire, which can be used for regional and international payments. The Swift competitor uses a bidirectional messaging system and sophisticated anti-money laundering technology to reduce the average wait for international transfers from 3-5 days to just 2 seconds.