Aptos’ APT Token Rallies 4% with Strong Volume and Momentum
Aptos' APT token increased over 4% on strong volume, with technical indicators indicating further potential gains. The token broke out of a consolidation phase between $4.65 and $4.73, establishing support at $4.73 and reaching a new local high.
Current price is approximately $4.86, reflecting a 2.6% increase. The broader market, represented by the CoinDesk CD20, rose by 1.75% at the same time.
Technical Analysis:
- APT rose from $4.65 to $4.85, marking a 4.3% gain with significant volume confirmation.
- Consolidation pattern formed between $4.65-$4.73, followed by a breakout at 09:00 with volume nearly doubling the 24-hour average.
- Strong support at $4.73; price action formed an ascending channel with resistance at $4.85.
- Volume spike during the 16:00 candle (884,397 units) confirmed buyer conviction as APT surpassed previous resistance levels.
- Distinct pattern of higher lows formed; resistance at $4.85 breached during the 20:01 candle with significant volume (10,126 units).
- Key development occurred when price surged from $4.84 to $4.85, supported by strong volume (9,094 units).
- Support at $4.84 held through subsequent retests, indicating momentum for continued upward movement.