made gains over the past 24 hours, climbing 1.8% to $1.76 despite headwinds from the approaching token unlock.
The altcoin is lagging the broader crypto market, signaling a selective rotation as traders weigh short-term supply pressures against technical momentum, according to CoinDesk Research’s technical analysis model.
The broader market index, the CoinDesk 20 Index, was up 2.8% at press time.
Volume models tell the real story, the model showed.
Trading activity surged 46% above 30-day averages, creating a backdrop of active price discovery rather than slight directional drift, according to the model.
The high turnover suggests institutional players are repositioning ahead of the expected increase in supply, with sophisticated money driving the intraday range of $0.11, according to the model.
APT opened at $1.73 before falling and rallying to $1.77, establishing a volatile recovery pattern showcasing competing forces.
Intraday volatility of 6.2% reflects true two-way interest rather than illiquid price spreads, the model showed, with the high volume confirming active institutional engagement despite fundamental headwinds.
Technical analysis
- Main support holds at $1.67-$1.68 area after several successful tests
- Resistance confirmed at $1.72 after a sharp rejection that triggered a 170% volume spike
- A trend towards higher lows emerges from the overnight session up to the current level of $1.76.
- Peak volume reached 9.1 million tokens on December 7 at 2:00 p.m., 170% above the 24-hour average.
- Sustainably above-average turnover indicates continued positioning before unlocking
- Immediate resistance targets $1.77-$1.775 based on recent hourly highs
- Support Structure Intact Above $1.67 Following Multiple Successful Tests
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.
