What you need to know:
● The APT course from Aptos increased by 4.5% on Monday.
● The trading volume, however, decreased by 29% below the monthly average, indicating a decline in confidence.
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APT
$1,6212 (as of writing)
increased by 4.5% and reached $1.63, despite low trading activity; the 24-hour trading volume decreased by 29% compared to the average over the past 30 days, according to technical analysis.
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APT outperformed the broader crypto market. The broader market index increased by 2.4% at the time of publication.
The model showed that the rise occurred without clear fundamental factors, reflecting broader dynamics in the cryptocurrency market rather than specific momentum of a particular token.
Price movement indicated consolidation rather than a decisive directional movement, according to the model.
Volume peaked at 5.7 million tokens, which is 102% higher than the 24-hour average of 2.83 million, as the token broke through resistance at $1.59, the model showed.
The token formed an ascending channel before testing the resistance level around $1.649 and has consolidated at current levels, the model reported.
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Technical analysis:
• Major support is held at $1.59 after a successful breakout test
• The area of immediate resistance extends from $1.65 to $1.655
• The session range of $0.09 accounts for 5.6% of the total price movement
○ Trading volume over the past 24 hours decreased by 29% compared to the 30-day average, indicating a decline in confidence
• The formation of the ascending channel maintains the pattern of rising minimum levels
• The immediate growth target is at the resistance level of $1.655
• Support from below remains at the breakout level of $1.59
