• The Aptos price has dropped by 2% in the past 24 hours, reaching $13.12 today.
• The new altcoin has experienced a 61% gain in the past week and a 250% jump in the last month.
• It is possible that Aptos could experience a much-needed correction soon, given its relative strength index.
The Aptos price has been on a wild ride as of late, reaching a new all-time high of $13.73 in October 2022 and experiencing a 61% gain in the past week and a 250% jump in the last month. While this is certainly great news for investors, it is possible that the token could experience a much-needed correction soon.
The Aptos price dropped by 2% in the past 24 hours, falling to $13.12 today. Its current price represents a healthy 61% gain in a week and an astonishing 250% jump in the last 30 days, making APT the best-performing top-100 coin over these periods. This movement has been so significant that its 30-day moving average (red) has absolutely eclipsed its 200-day (blue), providing another depiction of the now-obvious fact that APT has enjoyed a big breakout rally.
However, the relative strength index (purple) has steadily fallen from its peak at 90, and is now hovering around 50. This suggests that the token may be due for a much-needed correction, which could mean a drop in price. This suspicion is reinforced by the fact that Aptos has experienced such a significant increase in such a short period of time.
Despite the possibility of a price correction, Aptos remains a strong altcoin in terms of its fundamentals. The token was born out of Meta’s digital currency project, using the same Move programming language. Furthermore, it has raised hundreds of millions of dollars in its presale, making it one of the most successful new altcoins of the year.
In short, while Aptos may experience a correction in the near future, its fundamentals remain strong, making it one of the best-performing altcoins of the year. Investors should keep a close eye on the token, as its future performance could be very promising.