down 7% over the past 24 hours as investors moved ahead of a planned token unlock.
Broader crypto markets also fell, with the CoinDesk 20 index down 4.2% at press time, according to CoinDesk Research’s technical analysis model.
Volume rose 38% above its 30-day average as APT pulled back from an early high of $1.90, with exceptional trading reaching 6.81 million tokens, nearly triple normal levels.
Selling pressure intensified as market participants positioned themselves for the planned unlock of 11.3 million APT tokens, representing 1.5% of the total supply flowing to core contributors and early investors.
Technical weakness dominated price action after the $1.90 rejection, with APT establishing a series of lower highs and lower lows.
The token found tentative support near current levels after testing $1.69 several times, although volume patterns suggested continued distribution by major holders.
Technical Analysis
- Primary support zone established at $1.69-$1.70 after three successful defense attempts
- Major resistance confirmed at $1.91 where extraordinary volume marked strong selling interest
- Daily activity running 38% above 30-day moving average, confirming institutional participation
- Peak volume of 6.81 million tokens (180% above normal) occurred at $1.90 resistance, validating the distribution
- Declining pattern from $1.90 peak established short-term bearish structure with lower highs
- Break above $1.71 required to challenge stronger resistance near $1.90 session high
- Failure of support below $1.69 could trigger the next big decline based on previous consolidation zones
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.
