APT has demonstrated impressive resilience following a steep 10% drop, with buying activity intensifying near the critical $4.55 support level amid ongoing global economic uncertainty.
The wider cryptocurrency market has been shaken by rising geopolitical and economic pressures, contributing to increased volatility. APT was no exception, sliding from $5.058 to a low of $4.548 before stabilizing.
Despite the sharp downturn, the asset has bounced back steadily, as indicated by a shift from heavy selling volumes to patterns of accumulation. This trend suggests that institutional investors are capitalizing on the dip to build positions amid a cautious market environment.
Technical Highlights:
- APT experienced a 10.08% correction, falling from $5.058 to $4.548 before entering a recovery phase.
- The most intense selling occurred between 22:00 and midnight, with volumes peaking between 2.7M and 2.9M.
- Buyers established firm support in the $4.55 to $4.60 range, halting further declines.
- Prices stabilized between $4.60 and $4.70 as accumulation took hold.
- Renewed buying pressure pushed APT toward $4.75 in the session’s final hours, accompanied by rising volume.
- Hourly charts displayed a rounded bottom formation, a bullish technical indicator suggesting a potential upward reversal.
- Significant volume spikes at 14:01-14:02 (55K-32K tokens) helped propel prices back above $4.70.
- Price consolidation between $4.686 and $4.750 indicates efforts to maintain stability following the recent sell-off.
With APT finding support and buyers stepping in, market participants will be watching closely for signs of sustained recovery in the face of global economic challenges.
