APT$1.6934 declined 7% over the last 24 hours as investors repositioned ahead of a scheduled token unlock.

Wider crypto markets also fell, with the CoinDesk 20 index lower by 4.2% at publication time, according to CoinDesk Research's technical analysis model.

Volume surged 38% above the 30-day average as APT retreated from an early peak of $1.90, where exceptional trading reached 6.81 million tokens, nearly triple normal levels.

The selling pressure intensified as market participants positioned for the scheduled unlock of 11.3 million APT tokens, representing 1.5% of total supply flowing to core contributors and early investors.

Technical weakness dominated price action following the $1.90 rejection, with APT establishing a series of lower highs and lower lows.

The token found preliminary support near current levels after testing $1.69 multiple times, though volume patterns suggested continued distribution by larger holders.

Technical Analysis

• Primary support zone established at $1.69-$1.70 following three successful defense attempts
• Major resistance confirmed at $1.91 where exceptional volume marked heavy selling interest
• Daily activity running 38% above 30-day moving average, confirming institutional participation
• Peak volume of 6.81M tokens (180% above normal) occurred at $1.90 resistance, validating distribution
• Descending pattern from $1.90 peak established near-term bearish structure with lower highs
• Break above $1.71 required to challenge stronger resistance near $1.90 session high
• Support failure below $1.69 could trigger next major decline based on previous consolidation zones

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.