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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.
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