Aptos' APT drops as token tracks broader crypto market weakness
TL;DR
Aptos' APT token dropped 1% to $1.56, tracking broader crypto market weakness amid holiday trading conditions. Technical analysis shows a battle between bulls and bears with key resistance at $1.66 and support near $1.56.
Key Takeaways
- •APT price dropped 1% to $1.56 amid broader crypto market weakness and holiday trading conditions
- •Trading volume fell 11% below 30-day average, though selective spikes showed pockets of accumulation interest
- •Technical analysis reveals key resistance at $1.66 and support consolidating near $1.56
- •Double-bottom formation at $1.52 support triggered recent rally attempt, creating potential for moves above $1.56 resistance
- •Upside breakout targets $1.58-$1.585 resistance cluster while breakdown below $1.56 could lead to $1.52 retest
What to know:
- Aptos' APT slipped 1% to $1.56 on Wednesday.
- Trading activity fell 11% under the 30-day average amid holiday market conditions.
- Aptos' APT slipped 1% to $1.56 on Wednesday.
- Trading activity fell 11% under the 30-day average amid holiday market conditions.
APT slipped 1% to $1.56 over the last 24 hours, as wider crypto markets also retreated. The CoinDesk 20 index was 0.6% lower at publication time.
The token traded between $1.62-$1.56 during the 24-hour period, establishing a $0.06 range representing 3.6% intraday volatility, according to CoinDesk Research's technical analysis model.
The model showed a battle between bulls and bears at $1.63 resistance during evening hours.
Support held firm near $1.56 as momentum faded into thin holiday trading, according to the model.
Volume spiked 71% above the 24-hour average to 4.69 million tokens, coinciding with selling pressure from the session peak of $1.62, the model said.
The token completed a double-bottom formation at $1.52 support before rallying through $1.56 resistance.
Technical Analysis:
- Primary resistance holds firm at $1.66 through multiple tests while support consolidates near $1.56
- 11% drop in volume versus 30-day metrics signals trader fatigue, though selective spikes above 46,000 tokens reveal pockets of accumulation interest
- Double-bottom structure at $1.52 support triggers recent rally attempt, creating potential launch pad for moves above $1.56 resistance
- Upside breakout targets $1.58-$1.585 resistance cluster while breakdown below $1.56 support opens path to $1.52 retest levels
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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- FIL slipped 2% in early trading hours on Wednesday.
- Trading volume rose 7% above weekly average on moderate activity.
- Price consolidated within a $0.09 range after testing $1.35 resistance.
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