The stock was significantly weaker during Friday’s trading session, down 6% at $1.85, as technical selling overwhelmed buyers.
The coin lags behind the broader crypto market, with the CoinDesk 20 index down 2.5% at publishing time.
According to CoinDesk Research’s technical analysis model, trading volume remains sluggish at just 10.8% of the 30-day average, indicating a lack of widespread participation in APT’s decline.
The model shows that Aptos formed a $0.17 trading range, representing 8.5% volatility, as multiple waves of selling pressure hit new intraday lows.
Recent price action shows signs of stabilizing.
According to the model, the coin formed a potential double bottom pattern near $1.842, indicating that institutional buyers have emerged at these depressed levels.
The model says this constructive development provides the first technical bright spot after several days of weakness.
Technical analysis:
- Double bottom support is at $1.842, psychological resistance is at $1.90, and breakout is at $1.87, currently serving as overhead supply
- The massive sell-off of 3.54 million justifies the segmentation, while the subsequent smaller sell-off suggests easing selling pressure
- Downtrend line breakout completes $0.17 range decline, double bottom formation indicates potential bottom
- Immediate resistance is targeted at $1.87, with previous support at $1.87 and downside risk at $1.80 if the double bottom fails.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
