Aptos has seen increased user activity in the past few days. APT’s price is set to decline further with a drop in token accumulation. Following a prolonged rally in price, the fall in buying pressure has led to a decline in Aptos’s [APT] price in the last week. However, according to data from Artemis, amid […]
At press time, APT traded at $13.49. After the alt’s price peaked at $19.86 on 26 January, it has since declined by 32%.
The steep decline in APT’s price in the last two weeks is attributable to the waning buying pressure. An assessment of the token’s price movement on the price chart revealed this. Key momentum indicators that previously laid at overbought highs were spotted close to the oversold regions at the time of writing. APT’s Relative Strength Index was below its neutral spot at 48.88, while its Money Flow Index was pegged at 35.29.
These showed that buying momentum has dropped significantly in the past few weeks, as many traders proceeded to cash out their profits on their initial investments. With the Chaikin Money Flow below the center line at -0.05, APT’s price was bound to decline even further. A negative CMF value indicates that there is more selling pressure than buying pressure. Therefore, as long as the CMF remains in decline, it is reasonable to expect that APT’s price may continue to drop.Subscribe to get it daily in your inbox.
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