weakened sharply during Friday’s session, falling 6% to $1.85 as technical selling overwhelmed buyers.
The token lagged the broader crypto market, with the CoinDesk 20 Index down 2.5% at press time.
Trading volume remained subdued at just 10.8% of the 30-day average, suggesting that APT’s decline lacks broad participation, according to CoinDesk Research’s technical analysis model.
The model showed that Aptos carved out a trading range of $0.17 representing 8.5% volatility as several waves of selling pressure established new session lows.
Recent price developments show signs of stabilization.
The token formed a potential double bottom pattern near $1.842, suggesting that institutional buyers emerged at these depressed levels, according to the model.
This constructive development constitutes the first technical positive point after days of persistent weakness, according to the model.
Technical analysis:
- Double-bottom support holds at $1.842 with psychological resistance at $1.90 and a breakout level at $1.87 now acting as an overhead bid.
- Heavy sales volume of 3.54 million confirms the legitimacy of the breakout, while subsequent light volume suggests reduced selling pressure.
- Break of descending trendline completes decline from $0.17 range with double bottom formation indicating potential bottom
- Immediate resistance targets former support at $1.87 with downside exposure to $1.80 if the double bottom fails.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
