Aptos (APT) fell through key support levels, underperforming the broader crypto market, where the CoinDesk 20 index was down 2.5% at the time of publication.
Trading volume remained muted at just 10.8% of the 30-day average, suggesting the decline lacked broad participation, according to CoinDesk Research’s technical model. The token formed a $0.17 trading range, reflecting 8.5% volatility, as multiple waves of selling pressure pushed APT to fresh session lows.
Recent price action, however, shows early signs of stabilization. A potential double-bottom formed near $1.842, signaling that institutional buyers may be stepping in at these levels. CoinDesk’s model described this as the first technical positive after several days of persistent weakness.
Technical Analysis:
- Double-bottom support holds at $1.842, with psychological resistance at $1.90. The former breakdown level at $1.87 now acts as overhead supply.
- Heavy selling volume of 3.54 million confirms the breakdown, while subsequent lighter volume points to reduced selling pressure.
- A descending trendline break completes the $0.17 range decline, with the double-bottom indicating a potential floor.
- Immediate resistance targets $1.87, while downside risk extends to $1.80 if the double-bottom fails.
