Aptos (APT) fell through critical support levels, underperforming the broader crypto market, where the CoinDesk 20 index was down 2.5% at publication.
Trading activity remained muted, at just 10.8% of the 30-day average, suggesting that the recent decline lacked broad participation, according to CoinDesk Research’s technical model. The token recorded a $0.17 trading range, representing 8.5% volatility, as multiple waves of selling pressure pushed APT to fresh session lows.
Signs of stabilization are emerging. A potential double-bottom pattern formed near $1.842, indicating that institutional buyers may be stepping in at these depressed levels. CoinDesk’s model flagged this as the first technical positive after several days of sustained weakness.
Technical Analysis:
- Double-bottom support holds at $1.842, with psychological resistance at $1.90. The previous breakdown level at $1.87 now serves as overhead supply.
- Heavy selling volume of 3.54 million confirms the breakdown, while lighter follow-up volume points to easing selling pressure.
- A descending trendline break completes the $0.17 range decline, with the double-bottom suggesting a potential floor.
- Immediate resistance sits at $1.87, with downside exposure to $1.80 if the double-bottom fails.
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