APT Experiences 4% Drop After Breaking Key Support Level of $4.77
The APT token has hit a new low of $4.77 amid ongoing market volatility, indicating potential stabilization after a decline.
What You Should Know:
- APT fell by 4% as global tensions impacted the market.
- The token is currently consolidating around the $4.77 support level and has recovered some of its losses.
APT, trading at approximately $4.47, has been fluctuating significantly due to broader market uncertainties, with selling pressures forcing it below several support levels as investors react to various macroeconomic factors.
The token has now stabilized above $4.77 and has regained nearly half of its daily losses.
Technical Analysis:
- The APT-USD pair traded within a 3.6% range (high of $4.945 and low of $4.751) over the last 24 hours, establishing a critical resistance around $4.83-4.86.
- Heavy selling volume (1.25M) solidified a key support level at $4.77, consistently tested during this period.
- Recent price trends suggest consolidation after a downtrend, with bullish trends attempting to gain traction above $4.78.
- In the last hour, APT declined by 2.1% from $4.864 to $4.762, forming a descending channel with multiple resistance rejections.
- A notable volume spike occurred between 13:45-13:54 with over 30,000 units traded per minute, as pricing found temporary support at $4.764.
- Price action exhibited a mild recovery, stabilizing around $4.771, indicating a potential for consolidation following sharp declines.
The CD20 index dropped over 2% at the time of publication.
