In the past 24 hours, the cryptocurrency Aptos (APT) has shown notable price fluctuations linked to changes in trading volumes and overall market correction.
Price Movements and Support Levels
On July 24 at 14:00, APT's price significantly increased, rising from $4.59 to $4.75 with a trading volume of 3.64 million units. This movement established a strong support level above $4.59. During the night, the price slightly retracted to $4.62, but began rising again, reaching $4.67, indicating buyer activity. The technical analysis model identified a support zone between $4.58 and $4.60 and a resistance area between $4.75 and $4.79.
Market Developments and APT’s Performance
The increase in APT occurred amid a downturn in the broader cryptocurrency arena. The CoinDesk 20 index fell by 0.6% during the same period. Despite this, APT gained 1.2% in value over 24 hours, trading at approximately $4.695. Corrections in the cryptocurrency market led to the liquidation of leveraged positions exceeding $960 million, impacting investors' risk perception and market dynamics.
Technical Indicators and Potential Scenarios
Technical analysis indicates that after the morning's price pullback, APT prices rose steadily, leaning on the $4.62 support level. The subsequent price movement to $4.67 highlighted strong buyer presence in the market. The model indicates that APT created successively rising lows, suggesting potential movement toward the $4.75–$4.79 resistance range.
CoinDesk Research: "APT found significant support at the $4.59 level with high volume, leading to a notable upward movement. The newly formed support and resistance levels are critical areas for the price."
The volatility of APT in the last 24 hours, along with trading levels and technical analysis findings, are among the factors investors are closely monitoring. The definition of distinct support and resistance regions particularly highlights the importance of reassessing short-term risks and opportunities in the market.
