rose 4.5% to $1.63, despite a lack of trading activity, with 24-hour volume dropping 29% below its 30-day average, per CoinDesk Research’s technical analysis model.
APT has outperformed the broader cryptocurrency market. The CoinDesk 20 index, a market benchmark, increased by 2.4% at the time of publication.
The model indicated that this increase occurred without significant fundamental catalysts, showcasing broader market trends instead of specific momentum related to the token.
Price patterns hinted at consolidation rather than a strong directional shift, as suggested by the model.
Volume peaked at 5.7 million tokens, exceeding the 24-hour average of 2.83 million by 102%, as the token surpassed resistance at $1.59, according to the model.
The token established a rising channel pattern before testing resistance around $1.649, before stabilizing at current levels, the model indicated.
Technical Analysis:
- Primary support remains at $1.59 following a successful breakout test
- Immediate resistance lies between $1.65 and $1.655
- Session range of $0.09 signifies 5.6% of overall price movement
- 24-hour volume has decreased 29% below the 30-day average, indicating lower trader confidence
- Ascending channel structure maintains a pattern of higher lows
- Immediate upside target is at $1.655, near resistance confluence
- Downside support holds at the $1.59 breakout level
Disclaimer: Some parts of this article were written with the aid of AI tools and subsequently reviewed by our editorial team to ensure factual accuracy and compliance with our guidelines. For further information, please refer to CoinDesk’s complete AI Policy.
