APT Surges 5% From Lows Despite Market Volatility and $960M in Altcoin Liquidations

Aptos' APT exhibited exceptional price volatility throughout the 24-hour trading period, establishing a comprehensive trading range of 5.4%, spanning from an absolute low of $4.53 to a session high of $4.79, according to CoinDesk Research's technical analysis model.

The model showed that the period was highlighted by an explosive intraday rally at 14:00 on July 24, with price action accelerating from $4.59 to $4.75 accompanied by substantial volume of 3.64 million, creating robust volume-confirmed support at the $4.59 threshold.

Post-breakout, APT sustained consistent trading above the $4.60 level, encountering significant resistance in the $4.75-$4.79 range, according to the model.

The recent altcoin correction eliminated $960 million in leveraged positions throughout the cryptocurrency ecosystem.

The bounce in Aptos came as the wider crypto market fell, with the broader market gauge, the Coindesk 20, recently down 0.6%.

In recent trading, APT was 1.2% higher over 24 hours, trading around $4.695.

Technical Analysis:

• The trading session included a significant retracement to $4.62 approximately at 07:53, forming a crucial support foundation before launching a sustained upward movement.
• Price action reached $4.67 near 08:06, illustrating substantial buying pressure and momentum alignment.
• The recovery sequence confirms the previously established support territory around $4.58-$4.60.
• APT effectively maintained ascending lows, indicating potential advancement toward the identified resistance zone near $4.75-$4.79.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.