Aptos (APT) is trading at $0.66, weighed down by a bearish technical setup that traders say could drive the token to test the $0.60 support level within the next two to three days. The cryptocurrency is under a so-called death-stacked moving average structure, a configuration where shorter-term moving averages sit below longer-term ones, typically seen as a sign of sustained downward momentum.
Death-stacked moving averages
The moving average structure on APT’s daily chart shows the 50-day, 100-day, and 200-day lines stacked in descending order, with price trading below all of them. This pattern often reinforces selling pressure because each moving average acts as a resistance level as the price tries to bounce. The current setup leaves little room for a recovery unless buying volume picks up sharply.
Aggressive selling and declining open interest
Market data reveals aggressive taker selling on major exchanges, meaning sellers are willing to hit bids rather than wait for buyers to come to their ask prices. Meanwhile, open interest — the total number of outstanding futures contracts — has been declining. Falling open interest alongside falling price suggests that traders are closing out long positions rather than adding new shorts, which can accelerate the downtrend as liquidations pile up.
What the data predicts
The combination of the moving average death stack, aggressive selling, and shrinking open interest forms the base case for a retest of the $0.60 support level. That level has held as a floor in recent weeks, but the current momentum suggests it could be tested within 48 to 72 hours. A break below $0.60 would open the door to further declines, while a bounce from that zone could offer a short-term relief rally.
Traders are watching the $0.60 level closely as the next key support in the coming days.
