- Momentum across Aptos, Sui, and Sei has weakened together this August, suggesting the pressure reflects broader market sentiment rather than issues specific to any single token.
- NEAR Protocol’s rising stablecoin activity shows that on-chain growth does not always move in step with short-term price momentum.
- Hedera’s transaction records and ETF-related disclosure highlight how fundamentals can diverge sharply from the technical picture during periods of broad market weakness.
Momentum indicators across several mid-cap tokens have weakened noticeably this August, and traders who follow the Relative Strength Index are taking notice. The monthly RSI, a slower-moving version of the popular oscillator that smooths out daily price swings, has slipped toward stretched territory for a group of Layer-1 and infrastructure tokens.
Historically, similar momentum readings on other assets have preceded periods of stabilization, though results have varied depending on wider market conditions. What follows is a general look at where five closely watched tokens stand as sentiment shifts through the month.
Aptos Faces Persistent Selling Pressure
Aptos has been on a downtrend since the early part of the summer and has been especially weak during August so far. The token is out of its previous trading range, and the near-term momentum is far more on the bear side. Despite the overall cautious sentiment in the short-term due to news of lower DeFi activity from a key protocol partner, on-chain data still reveals growth in long-term network usage. A recovery of the chart would probably take some time since the buyers would have to take back the resistance which has recently been encountered, say analysts.
Sui and Sei Show Comparable Fatigue
Sui has spent most of August under pressure, with its price structure showing lower highs and lower lows across nearly every major moving average. A scheduled token unlock has added to selling pressure heading into the back half of the month, a pattern seen across other projects ahead of similar supply events. Sei has followed a comparable path, posting a notable monthly decline alongside softer trading volume, though a modest uptick in activity in recent days suggests some traders are beginning to re-engage with the token despite the broader downtrend.
NEAR Protocol Holds a Tight, Uncertain Range
However, NEAR Protocol has been oscillating in a tight range this August, indicating indecision and not a definite trend. While it hasn’t gone away, it has slowed down, and as expected, on-chain data reveals a surge in the activity of stablecoins on the network, which some market participants attribute to the return of user and builder interest. That activity has yet to become clear to traders as to whether it will lead to improved price performance or not.
Hedera Diverges With Stronger Fundamentals
Hedera stands apart from the rest of the group. The network recently logged its highest daily transaction volume on record, a sign of continued enterprise adoption that has drawn attention from analysts. A recently disclosed exchange-traded fund holding has also added a new layer of institutional interest to the token. Total value locked on the network has climbed in recent weeks as well, giving Hedera a more constructive backdrop than several of its peers even as broader momentum indicators stay mixed.
