APT's recent performance has indeed been quite aggressive: a 13% drop in a single day with high open interest, which is a typical signal of forced long liquidation. Looking at the chart, selling pressure has been persistent, but there’s little buying support to absorb it, which is not a good sign.

From a technical perspective, APT broke down through a key support level with increased volume. You need to understand that a price decline under high open interest often indicates that longs are starting to be forced to close, creating a vicious cycle — the more the price drops, the more stop-losses are triggered, leading to even more selling. In the short term, there are no clear signs of a bottoming out, and the rebound lacks strength; market sentiment is leaning towards panic.

In this kind of market, following the bearish momentum might be a viable option. The entry zone is around 1.58-1.62, with a stop-loss set at 1.68 (this is rigid and cannot be moved). For targets, the first level is at 1.48, and the second at 1.38. Of course, you should wait for clear buy support signals before considering reducing positions or exiting. In the current crypto market, caution is always wise.