The price of Aptos (APT) has declined by over 5% in the last 24 hours, reflecting renewed market uncertainty and a slowdown in trading momentum across the broader crypto sector. The recent decline places Aptos among the top underperforming Layer 1 blockchain tokens for the week.
Aptos Price Falls to Monthly Low
At the time of writing, Aptos is trading at $6.89, down from a 24-hour high of $7.25. This marks the lowest price for APT in the past 30 days, with its market cap slipping to approximately $2.9 billion.
The 5% dip comes after Aptos had shown signs of recovery earlier this month, briefly breaking above the $7.40 resistance level.
The 24-hour trading volume has decreased by 18%, currently hovering around $95 million, suggesting weakening investor interest and a potential short-term consolidation phase.
Technical Indicators Show Bearish Momentum
Aptos is now trading below its 50-day moving average, which signals growing short-term bearish pressure. The Relative Strength Index (RSI) has dropped to 42, indicating that APT is approaching oversold territory but has not yet hit extreme levels.
If support at $6.75 fails to hold, analysts suggest a further decline toward the $6.20 level could be likely.
On the upside, Aptos would need to reclaim the $7.25–$7.40 range to regain bullish momentum.
Aptos Ecosystem Developments Fail to Buoy Price
Despite the price drop, development activity within the Aptos blockchain ecosystem remains strong. Recent updates to Move, the smart contract language used by Aptos, and increased participation in NFT launches were expected to bring renewed attention.
However, macro factors such as declining risk appetite and reduced liquidity across centralized exchanges continue to weigh on speculative altcoins like Aptos.
Institutional inflows into Aptos-based DeFi protocols have also remained muted, limiting the upside price potential.
What to Watch for Aptos in the Near Term
Investors and traders will be closely watching:
- The next Federal Reserve policy signals, which could affect overall crypto sentiment.
- Developments in the Aptos-DeFi ecosystem.
- Any surprise announcements related to partnerships or ecosystem funding.
While Aptos remains a top 50 cryptocurrency by market cap, its near-term outlook depends on broader market recovery and stronger demand for Layer 1 assets.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.