gained 4.5% to $1.63 even as trading activity remained subdued, with 24-hour volume falling 29% below its 30-day average, according to CoinDesk Research’s technical analysis model.
APT has outperformed the broader crypto markets. The broader market index, the CoinDesk 20 Index, was up 2.4% at press time.
The model showed that the advance occurred without clear fundamental factors, reflecting broader cryptocurrency market dynamics rather than specific token dynamics.
The price action suggests consolidation rather than a decisive directional move, according to the model.
Volume peaked at 5.7 million tokens, 102% above the 24-hour average of 2.83 million, as the token broke resistance at $1.59, the model showed.
The token established an ascending channel pattern before testing resistance near $1.649 and stabilizing at current levels, according to the model.
Technical analysis:
- Main support holds at $1.59 after successful breakout test
- Immediate resistance zone extends from $1.65 to $1.655
- The $0.09 session range represents 5.6% of the total price movement.
- 24-hour volume decreased 29% below the 30-day average, indicating a reduction in convictions.
- Ascending channel formation maintains pattern of higher lows
- Immediate upside target lies at the confluence of resistance at $1.655
- Downside support held at $1.59 breakout level
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.
