Aptos’ APT drops as token tracks broader crypto market weakness

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 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.