fell 2.4% to $1.69 on below-average volume, clearly underperforming the broader crypto market.
The broader market gauge, the CoinDesk 20 Index (CD20), was 0.5% higher at press time.
This relative weakness against major cryptocurrencies signals selective investor caution toward APT, according to CoinDesk Research’s technical analysis model.
The model showed the token falling from $1.73 to $1.69 over the 24-hour period, establishing a volatile range-bound pattern with a total range of $0.09.
The most significant volume event occurred earlier this morning with an exceptional volume of 12.2 million tokens, 214% above the 24 hour moving average, confirming strong resistance near $1.75 according to the model.
Price action showed consolidation within a tight channel after the initial decline, according to the model, with momentum waning as volume normalizes after the rejection of high volume.
APT’s decline comes on tepid trading activity, with 24-hour volume running 31% above its 7-day moving average but falling short of significant threshold levels.
Technical analysis:
- Primary support established at $1.68-$1.69 psychological level, with major resistance confirmed at $1.75 after high volume rejection.
- Maximum volume of 12.17 million (214% above SMA) confirms resistance failure, while recent recovery shows accelerating volume above $1,695 breakout level.
- Range-bound consolidation within $0.09 channel after initial decline, with 60-minute charts showing bullish recovery pattern.
- Immediate upside target at $1.70-$1.705 resistance cluster, with wider range highs near $1.75 representing next major test.
- Technical indicators show overwhelmingly bearish signals across all timeframes.
Disclaimer: Parts 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.
