APT decreased by 1% to $1.56 in the last 24 hours, mirroring a broader decline in the cryptocurrency markets. The CoinDesk 20 index was down 0.6% at the time of this publication.
Throughout the 24-hour period, the token fluctuated between $1.62 and $1.56, establishing a range of $0.06, indicative of a 3.6% intraday volatility according to CoinDesk Research’s technical analysis model.
The analysis indicated a struggle between bullish and bearish forces at the $1.63 resistance level during the evening hours.
Support remained robust near $1.56 as trading momentum diminished in a thin holiday market, per the model’s insights.
Trading volume surged 71% above the 24-hour average, reaching 4.69 million tokens, coinciding with selling pressure observed at the session high of $1.62, as reported by the model.
The token formed a double-bottom pattern at $1.52 support before breaking through the $1.56 resistance level.
Technical Analysis:
- Primary resistance is established at $1.66 after multiple tests, while support solidifies around $1.56.
- Volume saw an 11% decrease compared to 30-day figures, pointing to trader fatigue, yet sporadic spikes exceeding 46,000 tokens indicate areas of accumulation interest.
- The double-bottom formation at $1.52 support catalyzed the recent rally attempt, serving as a potential launch point for movements above the $1.56 resistance.
- An upside breakout is targeting the $1.58-$1.585 resistance cluster, while a decline below the $1.56 support could lead to a retest at the $1.52 levels.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure both accuracy and compliance with our standards. For additional details, refer to CoinDesk’s comprehensive AI Policy.
