The APT token experienced a significant 6% drop reaching $1.85 during this Friday’s trading session. This abrupt correction responds to an accelerated technical breakdown that overwhelmed buyers’ capacity, while the asset underperforms the broader market.
During the trading day, the price plummeted from a high of $1.98 to touch $1.85, forcefully piercing the critical level of $1.87. CoinDesk Research analysis indicates that, curiously, trading volume remained low, sitting at just 10.8% of the 30-day average. This suggests that the current drop lacks broad participation from the majority of retail investors. Furthermore, the technical model showed that Aptos carved out a $0.17 trading range, representing 8.5% volatility amidst multiple waves of selling pressure that established fresh lows.
This bearish move highlights considerable relative weakness against the rest of the digital asset ecosystem at this moment. While the CoinDesk 20 index retreated a moderate 2.5%, Aptos showed much greater fragility in the face of institutional and technical selling pressure. On the other hand, the breach of the psychological and technical barrier of $1.87 has turned this former support into a new resistance zone that is immediate and difficult to overcome. This behavior usually triggers automatic sell orders that exacerbate the correction in the short term, leaving bulls in a precarious defensive position.
Can the emerging reversal pattern stop the token’s current bleeding?
Despite the negative outlook, signs of technical stabilization have emerged on the affected digital asset’s recent charts. It has been identified that, following the accelerated technical breakdown, price action could be culminating in a tentative recovery structure. Specifically, a double-bottom pattern has emerged near $1.842, suggesting the strategic entry of buyers at these depressed levels. This constructive development provides the first technical bright spot after days of persistent weakness, indicating that “strong hands” could be accumulating while the price stabilizes.
If the current double-bottom support fails to hold firm against pressure, the asset faces downside exposure toward $1.80. Traders must monitor selling volume, which although heavy initially confirming the breakdown, has decreased recently suggesting potential seller exhaustion. Consequently, Aptos’ ability to reclaim the $1.87 level will be crucial to invalidate the prevailing bearish thesis. The cryptocurrency market watches closely to see if this technical floor will be sufficient to reverse the immediate negative trend and allow a rebound toward the $1.90 resistance.
