surged by 7.8% to $1.91 in the past 24 hours, outpacing the larger cryptocurrency market as institutional investments pushed the price past significant technical barriers.
The increase moved from $1.78 to $1.91, demonstrating clear upward momentum with robust support at the $1.74 mark, as indicated by CoinDesk Research’s technical analysis model.
The broader market benchmark, the CoinDesk 20 index, rose by 5% at the time of publication.
Trading volumes confirmed APT’s breakout, with activity recorded at 30% above the 30-day average, indicating real institutional interest rather than mere retail volatility.
Volume surged to 4.83 million tokens, reflecting a 142% increase above the 24-hour average as the price surpassed the $1.80 resistance level.
Each upward movement has seen increased participation from institutions, according to the model.
Aptos will face a $19.8 million token unlock on Dec. 12, which is about 1.5% of its market capitalization.
Technical Analysis:
- Strong support is noted at $1.74 with resistance at the psychological level of $1.90
- 24-hour trading activity is 30% above the monthly average, suggesting significant institutional engagement
- A clean ascending channel pattern has emerged with higher lows at $1.81, $1.846, and $1.858
- The next price target at $1.90 aligns with a broader bullish trend; stop-loss positioned below the $1.74 support
Disclaimer: Portions of this article were created with AI assistance and reviewed by our editorial team to ensure accuracy and compliance with our standards. For further details, refer to CoinDesk’s complete AI Policy.
