APT fell 1% to $1.56 over the past 24 hours as the broader cryptocurrency market also retreated. At the time of publication, the CoinDesk 20 index was down 0.6%.
According to CoinDesk Research’s technical analysis model, the coin traded between $1.62 and $1.56 over the 24-hour period, establishing a $0.06 range, which equates to an intraday move of 3.6%.
The model shows bulls and bears engaging in a battle at the $1.63 resistance during the evening session.
The model shows momentum fading amid thin holiday trading, with support holding firm near $1.56.
Volume surged 71% from the 24-hour average to 4.69 million tokens, coinciding with selling pressure from an intraday peak of $1.62, the model said.
The coin completed a double bottom formation at the $1.52 support before rebounding to the $1.56 resistance.
Technical analysis:
- After multiple tests, the main resistance level held at $1.66, while support consolidated around $1.56
- An 11% drop in trading volume compared to the 30-day indicator points to trader fatigue, although a selective spike above 46,000 coins reveals accumulating interest
- A double bottom structure at support at $1.52 triggered the recent rebound attempt, creating a potential launch pad for a breakout of resistance at $1.56
- An upside break targets resistance at $1.58-1.585, while a fall below the $1.56 support opens the way to a retest of $1.52 levels
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.
