Aptos’ APT token surged more than 4% following a bullish breakout, according to CoinDesk Research’s technical analysis model.
The token smashed through resistance at the $5 level and is currently 4.2% higher, trading around $5.065.
Despite facing a 19% monthly decline and competition from emerging blockchain platforms, APT’s recent price action suggests potential accumulation before its next significant move, according to the model.
The broader market gauge, the CoinDesk 20 was 3% higher at publication time.
Technical Analysis:
- APT established strong support at 4.927 after breaking through the 5.00 psychological resistance level.
- High-volume rally created a new resistance zone around 5.138, with subsequent consolidation forming a bull flag pattern between 5.00-5.10.
- Price action showed APT breaking through the 5.090 resistance on substantial volume exceeding 149,000 units.
- A pullback formed a higher low at 5.045, establishing a new support zone.
- Final 15 minutes showed price consolidation in the 5.045-5.062 range, suggesting potential accumulation.
- Total price range represented 0.261 (5.4%) from low to high during the analyzed period.