“The token has resistance at the $1.53 and then the $1.64 levels.”, — write: www.coindesk.com
The token established lower highs and lower lows within a $0.1429 range, according to CoinDesk Research’s technical analysis model.
The model showed that APT spiked to $1.64 on heavy volume before crashing back down. This created strong resistance at that level.
Volume hit 258% above the 24-hour moving average during the rejection. Selling pressure intensified below the $1.56 support zone, according to the model.
The elevated trading activity reached 23% above the 30-day average, the model showed. This indicated genuine institutional interest rather than low-volume technical moves.
The decline in APT came as broader crypto markets also fell, The broader market gauge, the CoinDesk 20 index, was 2.1% lower at publication time.
Technical Analysis:
- Strong resistance established at the $1.64 level following volume spike rejection
- The volume surge to 6.88 million confirmed selling pressure at 258% above the 24-hour SMA
- Sustained volume above 6 million during breakdown phases validated the bearish structure
- Lower highs and lower lows established the bearish structure
- Immediate resistance at $1.53 must be reclaimed for recovery
- A break below $1.515 supports targets lower levels while $1.64 remains key upside barrier
Disclaimer: Parts of this article were generated with the assistance of 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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