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Aptos (APT) Edges Lower Amid Broader Crypto Weakness
Aptos (APT) slipped 1% over the past 24 hours, trading at $1.56 as broader crypto markets also retreated. At the same time, the CoinDesk 20 index was down 0.6% at publication.
The token fluctuated between $1.62 and $1.56 during the 24-hour period, establishing a $0.06 range, or 3.6% intraday volatility, according to CoinDesk Research’s technical analysis model. The model highlighted a tug-of-war between bulls and bears near $1.63 resistance during evening trading, while support held firm around $1.56 amid thin holiday volumes.
Trading volume spiked 71% above the 24-hour average to 4.69 million tokens, coinciding with selling pressure from the session peak of $1.62. Earlier, the token completed a double-bottom formation at $1.52 support before rallying above $1.56 resistance.
Technical Analysis Highlights:
- Primary resistance remains at $1.66 after multiple tests, while support consolidates near $1.56.
- An 11% drop in volume versus 30-day averages suggests trader fatigue, though selective spikes above 46,000 tokens indicate pockets of accumulation.
- The double-bottom at $1.52 triggered the recent rally attempt, potentially setting up a launch pad for moves above $1.56.
- Upside breakout targets the $1.58–$1.585 resistance cluster, while a breakdown below $1.56 could open a path to retest $1.52 support.
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