weakened sharply during Friday’s session, falling 6% to $1.85 as technical selling overwhelmed buyers.
The token lagged the broader crypto market, with the CoinDesk 20 index down 2.5% at press time.
Trading volume remained muted at just 10.8% of the 30-day average, suggesting APT’s decline lacks broad participation, according to CoinDesk Research’s technical analysis model.
The model showed Aptos carving out a trading range of $0.17, representing 8.5% volatility, as several waves of selling pressure established new session lows.
Recent price action is showing signs of stabilization.
The token formed a potential double bottom pattern near $1,842, suggesting that institutional buyers have emerged at these low levels according to the model.
This constructive development provides the first technical bright spot after days of persistent weakness, the model said.
Technical analysis:
- Double bottom support holds at $1.842 with psychological resistance at $1.90 and breakdown level at $1.87 now acting as overhead supply
- Heavy selling volume of 3.54 million confirms breakdown legitimacy, while subsequent light volume suggests reduced selling pressure
- Descending trend line break completes decline of $0.17 with double bottom formation indicating potential bottom
- Immediate resistance targets $1.87 previous support with downside exposure to $1.80 if double bottom failure
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
