Aptos' APT token has surged more than 4% in value due to a bullish breakout, as shown by CoinDesk Research's technical analysis model. The token has moved past the $5 barrier and is currently trading at approximately $5.065. Despite experiencing a 19% decline over the last month and facing stiff competition from new blockchain platforms, this recent price movement suggests that there may be significant accumulation occurring before APT's next major movement. The broader market index, the CoinDesk 20, was reported to be up 3% at the time of publication.
Technical analysis indicates that APT has established firm support at $4.927 following the breach of the psychological resistance level at $5.00. The volume during the rally was notable, creating a new resistance zone around $5.138. Following this, APT's price action showed consolidation, forming a bull flag pattern between $5.00 and $5.10. The significant price movement involved breaking through a resistance point of $5.090 with a trading volume exceeding 149,000 units. A subsequent pullback has identified a higher low at $5.045, establishing a fresh support area. In the final fifteen minutes, the price held steady between $5.045 and $5.062, suggesting a potential accumulation phase. The total price fluctuation for this analysis ranged from a low of $4.804 to a high of $5.065, a difference of 0.261, or approximately 5.4%.
Technical analysis indicates that APT has established firm support at $4.927 following the breach of the psychological resistance level at $5.00. The volume during the rally was notable, creating a new resistance zone around $5.138. Following this, APT's price action showed consolidation, forming a bull flag pattern between $5.00 and $5.10. The significant price movement involved breaking through a resistance point of $5.090 with a trading volume exceeding 149,000 units. A subsequent pullback has identified a higher low at $5.045, establishing a fresh support area. In the final fifteen minutes, the price held steady between $5.045 and $5.062, suggesting a potential accumulation phase. The total price fluctuation for this analysis ranged from a low of $4.804 to a high of $5.065, a difference of 0.261, or approximately 5.4%.
