APT fell 1% to $1.56 in the last 24 hours, as broader crypto markets also retreated. The CoinDesk 20 index was 0.6% lower at press time.
The token traded between $1.62 and $1.56 over the 24-hour period, establishing a range of $0.06 representing 3.6% intraday volatility, according to CoinDesk Research’s technical analysis model.
The model showed a battle between bulls and bears with resistance at $1.63 during the overnight hours.
According to the model, support held firm near $1.56 as momentum faded in thin holiday trading.
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 with support at $1.52 before breaking above the resistance at $1.56.
Technical analysis:
- Primary resistance remains firm at $1.66 through multiple tests, while support consolidates near $1.56.
- The 11% drop in volume compared to the 30-day metrics indicates trader fatigue, although selective spikes above 46,000 tokens reveal pockets of accumulation interest.
- The double bottom structure at the $1.52 support triggers a recent recovery attempt, creating a potential launching pad for moves above the $1.56 resistance.
- Upside break targets $1.58-$1.585 resistance group, while break below $1.56 support paves way to retest levels of $1.52
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
