Despite facing headwinds from the upcoming token unlock, it has gained ground in the past 24 hours, rising 1.8% to $1.76.
Altcoins are lagging the broader cryptocurrency market, according to CoinDesk Research’s technical analysis model, suggesting a selective rotation in altcoins as traders weigh near-term supply pressure against technical momentum.
At press time, the CoinDesk 20 Index, a broader market gauge, was up 2.8%.
The model shows that volume patterns tell the real story.
According to the model, trading activity jumped 46% from the 30-day average, creating a positive price discovery backdrop rather than a slight directional drift.
The model said rising volumes suggested institutional players were repositioning ahead of a planned increase in supply, with mature funds pushing the $0.11 intraday range.
APT opened at $1.73 before falling and rebounding to $1.77, setting up a volatile recovery pattern that showcased competitive strength.
The model shows that intraday volatility of 6.2% reflects genuine two-way interest rather than an illiquid price gap, and increased trading volume confirms active institutional participation despite fundamental headwinds.
technical analysis
- After multiple successful tests, the main support remains in the $1.67-$1.68 area
- Resistance confirmed at $1.72 after sharp rejection triggers 170% volume spike
- A pattern of higher lows emerged in the overnight session, leading up to the current $1.76 level
- At 14:00 on December 7, the peak trading volume reached 9.1 million tokens, 170% higher than the 24-hour average
- Sustained above-average volume indicates continued position holding prior to unlocking
- Based on recent hourly highs, immediate resistance targets $1.77-$1.775
- After multiple successful tests, the support structure above $1.67 remains intact
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.
