APT dropped 7% over the past 24 hours to $1.6852 as investors adjusted positions ahead of a scheduled token unlock. The broader crypto market also softened, with the CoinDesk 20 index down 4.2%, according to CoinDesk Research’s technical analysis.
Trading volumes surged 38% above the 30-day average, reflecting strong institutional activity. The token retreated from an early high of $1.90, where 6.81 million APT changed hands — nearly three times normal levels. Selling pressure intensified ahead of the upcoming release of 11.3 million tokens, roughly 1.5% of total supply allocated to early investors and core contributors.
After peaking at $1.90, APT formed a series of lower highs and lower lows, signaling near-term weakness. Support has been tested near $1.69 multiple times, while volume patterns indicate continued distribution by larger holders.
Technical Overview:
- Support: $1.69–$1.70, defended on three occasions
- Resistance: $1.91, accompanied by heavy volume
- Volume: 38% above 30-day average, confirming institutional participation
- Peak trading: 6.81M tokens at $1.90, validating distribution
- Price pattern: Descending from $1.90, forming lower highs
- Upside: A sustained move above $1.71 could test $1.90
- Downside: Falling below $1.69 could open the path to prior consolidation zones
Share this content:
