In the past 24-hour trading period, the cryptocurrency Aptos (APT) has experienced significant price volatility. According to CoinDesk Research’s technical analysis model, APT’s price fluctuated within a 5.4% range. The lowest price recorded was $4.53, while the highest reached $4.79. Analysts suggest that this volatility was linked to high trading volumes and a general market correction.
Price Movements and Support Levels
At 14:00 (UTC+8) on July 24, there was a notable increase in APT’s price. The cryptocurrency quickly rose from $4.59 to $4.75, reaching a substantial trading volume of 3.64 million units. This surge resulted in a strong support level above $4.59.
During the morning hours, the price retracted to $4.62 but managed to maintain this level, triggering an upward movement. Shortly thereafter, the price increased to $4.67, indicating dominant buyer activity in the market. The model highlighted a support zone between $4.58–$4.60 and a distinguished resistance region between $4.75–$4.79. Crypto Traders Are Rushing to This App – Here’s Why You Should Too
Market Developments and APT’s Performance
The recovery in APT occurred amidst a downtrend in the broader cryptocurrency market . CoinDesk 20, a comprehensive market 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.
Recent corrections in the cryptocurrency market led to the liquidation of leveraged positions exceeding $960 million. This situation directly affected investor risk perception and market dynamics, reflecting in APT’s price movements.
Technical Indicators and Potential Scenarios
Technical analysis details indicate that after the morning’s price pullback, APT prices rose steadily. The $4.62 support level emerged as the basis for this increase. Subsequent price movement to $4.67 pointed to the presence of strong buyers in the market.
The model assessed 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 team approaching market movements with AI-supported analysis tools stated they went through an editorial process to enhance the accuracy of technical indicators. It’s noted that short-term price volatility is crucial in cryptocurrency markets and that support/resistance levels can guide investment decisions.
APT’s volatility 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 prompts reevaluation of short-term risks and opportunities in the market. The significant liquidation of leveraged positions in the cryptocurrency market underscores the importance of risk management methods for investors.
