made notable progress over the past 24 hours, rising 1.8% to $1.76 even as it contended with challenges from an impending token unlock.
This altcoin trailed the wider cryptocurrency sector, indicating a selective shift as traders balanced short-term supply concerns with technical momentum, as per CoinDesk Research’s technical analysis framework.
The broader market index, the CoinDesk 20 index, reflected a 2.8% increase at the time of publication.
Volume trends revealed the underlying narrative, as indicated by the model.
Trading activity surged 46% beyond the 30-day averages, fostering a scenario of active price discovery instead of a sparse, one-directional drift, according to the model.
The increased turnover hints at institutional players repositioning ahead of the anticipated supply surge, with adept capital influencing the $0.11 intraday range, as highlighted by the model.
APT began the session at $1.73 but fell before bouncing back to $1.77, revealing a volatile recovery pattern that underscored opposing pressures.
The 6.2% intraday volatility indicates authentic two-way interest instead of gaps in liquidity, as suggested by the model, with the heightened volume affirming active institutional participation despite fundamental challenges.
Technical Assessment
- Primary support is observed at the $1.67-$1.68 range after several successful tests
- Resistance confirmed at $1.72 following a swift rejection that triggered a 170% volume surge
- A pattern of higher lows has emerged from the overnight session up to the current $1.76 level
- Peak volume reached 9.1 million tokens on Dec. 7 at 14:00, running 170% above the 24-hour average
- Sustained above-average turnover suggests ongoing positioning ahead of the unlock
- Immediate resistance levels are targeted at $1.77-$1.775 based on recent hourly highs
- The support structure remains strong above $1.67 after multiple successful tests
Disclaimer: Portions of this article have been generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, please see CoinDesk’s complete AI Policy.
