fell 7% in the last 24 hours as investors repositioned ahead of the token’s expected unlock.
Broader crypto markets also fell, with the CoinDesk 20 Index down 4.2% at press time, according to CoinDesk Research’s technical analysis model.
Volume surged 38% above the 30-day average as APT pulled back from an initial high of $1.90, where outstanding trades reached 6.81 million tokens, nearly triple normal levels.
Selling pressure intensified as market participants positioned themselves for the planned unlocking of 11.3 million APT tokens, representing 1.5% of the total supply to major backers and early investors.
Technical weakness dominated price action following the $1.90 rejection, with APT establishing a series of lower highs and lower lows.
The token found preliminary support near current levels after testing $1.69 multiple times, although volume patterns suggest continued distribution by larger holders.
Technical analysis
- Main support zone established between $1.69 and $1.70 after three successful defense attempts
- Major resistance confirmed at $1.91 where exceptional volume marked strong selling interest
- Daily activity 38% higher than 30-day moving average, confirming institutional participation
- The peak volume of 6.81 million tokens (180% above normal) occurred at $1.90 resistance, validating the distribution.
- The downtrend from the $1.90 high established a short-term bearish structure with lower highs.
- A break above $1.71 is needed to challenge stronger resistance near the session high of $1.90.
- Failure of support below $1.69 could trigger the next major decline based on previous consolidation zones
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.
