Aptos Price Plunges 7.93% as Technical Pressure Mounts and Circle Discontinues USDC Contracts

Aptos (APT) price has dropped by 7.93% over the past day, trading at $0.534. The token is currently under technical pressure from both short-term and long-term perspectives. According to Traders Union, Aptos' price remains below its key moving averages.

The introduction of Confidential APT on Petra Wallet has provided users with enhanced privacy options while maintaining compliance-level address visibility. However, this move may not lead to a significant demand shift in the near term. Meanwhile, Circle's decision to phase out legacy USDC cross-chain transfer contracts will leave Aptos reliant on older infrastructure for cross-chain transactions.

The technical analysis suggests that APT/USD trades below major moving averages, with mostly bearish indicator signals. The Ichimoku Kijun level at $0.565 is the nearest resistance. Momentum indicators largely confirm selling pressure, with a high probability of a continued downward move over the next 2-3 sessions.

The analysis forecasts a volatility band ranging from $0.4973 to $0.615 for APT/USD, indicating an elevated downside risk. If price clears $0.565 resistance, a modest rebound could emerge, but a break below $0.4973 would confirm further downside risk.