The price of Aptos (APT) has surged by 7% in the last 24 hours, reaching a high of $4.72. This bullish momentum was accompanied by heavy trading volume and a rally in the wider crypto market.
According to CoinDesk Research’s technical analysis model, Aptos showed strong bullish momentum throughout the past 24 hours. The most significant price action occurred during the night and early morning of August 8, with a volume surge of over 12.9 million units. This pushed the token through resistance levels and established new support at $4.61-$4.66.
Aptos has now surpassed Solana and Stellar in real-world asset (RWA) tokenization, making it the third largest globally with a total value locked of over $719 million.
The rise in APT’s price coincided with a 3.2% increase in the broader crypto market, as seen in the Coindesk 20 index.
At the time of writing, Aptos was trading at $4.62, up 7% in the last 24 hours. The technical analysis model suggests that the token has established a support zone at $4.61-$4.66 and a resistance threshold at $4.72. The ascending trough formations indicate that the price may continue to rise towards $4.80-$4.90 Fibonacci levels.
However, there was a terminal hour reversal with a volume surge of over 126,000 units, indicating institutional distribution activity. This suggests that there may be some selling pressure at the current resistance level.
Disclaimer: This article was generated with the assistance of 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.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movements, and news according to SEO standards. This article was written based on CoinDesk reports.
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