APT Token Soars 4% on High Trading Volume, Upside Potential Remains
Support at $4.84 has held through subsequent retests, indicating a possible uptrend continuation.
APT, the token associated with Aptos, has experienced a surge of more than 4% aided by robust trading volume, as indicated by CoinDesk Research’s technical analysis model.
The digital asset moved beyond its consolidation zone of $4.65 to $4.73, establishing a solid support level at $4.73 before breaking through earlier resistance to reach a new local high, according to the model.
- Key Points:
- APT climbed from $4.65 to $4.85, a 4.3% gain confirmed by significant volume.
- Price demonstrated a clear consolidation pattern before a decisive breakout at 09:00, with trading volume approaching double the 24-hour average.
- Strong support was identified at $4.73, with price action forming an ascending channel, meeting resistance at $4.85.
- A notable spike in volume during the 16:00 candle (884,397 units) demonstrated buyer confidence as APT surpassed previous resistance levels.
- A distinct pattern of higher lows formed, facing resistance near $4.85, which was breached during the 20:01 candle with considerable volume (10,126 units).
- A crucial technical development occurred when the price surged from $4.84 to $4.85 backed by strong volume confirmation (9,094 units).
- The established support at $4.84 remained firm through retests, with the final moments suggesting momentum for continued growth.
Currently, the token is trading approximately 2.6% higher at around $4.86, while the broader market indicator from CoinDesk saw a 1.75% increase at the time of publication.
