APT Price Tanks to $0.57 as Sellers Take Control

APT is currently struggling to find support in its price action, trading at $0.57 after a significant 6% drawdown.

The coin's momentum has come to a standstill, with the MACD histogram flatlining and buyers and sellers reaching an uneasy standoff.

A critical level for APT is its immediate support at $0.55, which needs to hold on a closing basis to prevent a deeper slide. If this level cracks, the next strong support becomes the magnet at $0.52.

The retail positioning in APT is precarious, with 57.4% of traders long and open interest ticking up 2.94% over 24 hours while price fell, a textbook signal of new short positions being opened.