Aptos (APT) price suffered rejection from the peak of the market range at $14.55 on March 6, what came on the back of a broader market dump could become worse as the network readies for massive unlocks event.
Aptos network will unleash 24.84 million tokens to the market on March 13. The unlock represents 6.7% of Aptos’ circulating supply worth $334.13 million. Divergence seen in the development activity metric against price suggests a bearish outlook for the L2 token. Aptos price suffered rejection from the peak of the market range at $14.55 on March 6, what came on the back of a broader market dump could become worse as the network readies for massive unlocks event.
32 to $14.55. Technical indicators suggest a further downside, as momentum. This is shown with the nose-diving Relative Strength Index . The histogram bars of the Awesome Oscillator and the volume indicators are also flashing red, to show the bears are gaining ground. If they have their way, Aptos price could drop, slipping below the immediate support at $12.79 before testing the most crucial Fibonacci retracement level of 61.8% at $11.41.
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