APT drops, underperforming the wider cryptocurrency market

APT lagged the broader crypto market as trading activity remained subdued, even as recent developments across the ecosystem failed to lift sentiment.

The token fell 2.4% to $1.69 on below-average volume, significantly underperforming the wider digital-asset market. The CoinDesk 20 index (CD20) was up 0.5% at the time of publication.

According to CoinDesk Research’s technical analysis model, the relative weakness points to selective investor caution toward APT. Over the past 24 hours, the token slipped from $1.73 to $1.69, settling into a volatile but range-bound pattern spanning roughly $0.09.

The most notable surge in activity occurred earlier in the session, when trading volume jumped to 12.2 million tokens — 214% above the 24-hour moving average — reinforcing resistance near the $1.75 level, the model showed.

After the initial decline, price action consolidated within a narrow channel as momentum faded and volumes normalized following the high-volume rejection. Overall trading remained tepid, with 24-hour volume running 31% above the seven-day average but still short of levels typically associated with a decisive move.

Technical Analysis Highlights:

Support is concentrated at the $1.68–$1.69 zone, while strong resistance has formed at $1.75 following the failed breakout.
Peak volume of 12.17 million tokens (214% above the moving average) confirmed resistance, though recent price action shows improving volume above the $1.695 level.
The token continues to trade within a $0.09 consolidation range, with 60-minute charts suggesting a modest bullish recovery pattern.
Near-term resistance sits at $1.70–$1.705, with the upper boundary near $1.75 marking the next major hurdle.
Technical indicators remain broadly bearish across multiple timeframes