• Aptos extends its weekly downtrend as selling pressure increases.
• Trading volume and market capitalization continue to fall, showing weak liquidity.
• Aptos surpasses Ethereum in 24-hour stablecoin transfer activity.
• Downtrend remains intact unless APT reclaims major resistance levels.

Aptos (APT) continues to slide as market pressure deepens, which keeps the token on a clear downward trajectory. The price has dropped nearly 5.83% in the past 24 hours, extending last week’s overall 3.46% decline. The short-term trend reflects persistent selling momentum and a lack of strong recovery signs.

At the moment, APT is trading at $2.89, and this is accompanied by a notable dip in trading activity. The 24-hour volume has fallen 18.06% to $158.57 million, while the market cap has slipped 5.81% to $2.11 billion.

Also Read: Aptos Price Skyrockets: Will APT Smash Through $20 Soon?

Aptos Surpasses Ethereum in Stablecoin Rail Activity

Aptos has just overtaken Ethereum in stablecoin transfer activity, marking a major shift in its 24-hour network performance. With a recorded volume of $517 million, APT has emerged as the most active stablecoin rail, highlighting its growing relevance in the market. This surge signals growing adoption and increasing confidence in the network’s speed and efficiency.

On the other hand, Ethereum registered a stablecoin transaction volume of $491 million during the same period, slightly behind Aptos. Even though Ethereum is the leading smart contract platform currently, the newest data also indicates that the newest layer-1 blockchains, such as Aptos, are catching up. This also marks a shift in consumer behavior and a competition within the world of blockchain.

APT Technicals Point to Further Downside Risk

Aptos now trades around $2.90 and remains locked in a prolonged weekly downtrend. The current trading level remains below the levels of the 20 SMA, 50 SMA, 100 SMA, and 200 SMA. The bearish MA Ribbon indicates that the bears continue to control the market since the bulls have not managed to take control yet. The first level of support is at $2.80.

Momentum indicators also affirm the weakness. The RSI is at 37.67, well into the bearish area. The indicator has not yet tested the oversold level, which suggests that there is potential for further decline. The MACD chart for the week is also bearish, and the bars of the histogram are escalating, with no sign of a bullish crossover yet.

If APT breaches the $2.80 level, the next targets for the downside will be $2.50-$2.60, then $2.20, and the key level of $2.00. A further drop could send the token towards $1.60. However, for a substantial rebound, Aptos has to recover the $3.20-$3.30 level. Only then will the token be able to reach the targets of $4.27, $5.67, and $7.42. The overall trend remains bearish until the token breaches the level of the 20-SMA.

Also Read: Aptos Eyes $6.20 as USD1 Stablecoin Launches