Aptos’ (APT) Wave Count Gives Crypto a Bullish Prediction
- Since October 23, APT has been on a parallel channel that descends since then.
- $8.65 is the main area of support for APT.
- APT’s wave count is giving the crypto a bullish prediction.
Since October 23, Aptos (APT), has been trading in a descending parallel channel. These parallel channels often contain corrective movements. A breakout from the channel is possible if this is true for APT.
However, neither the resistance nor support lines have been validated. APT’s price could fall below the channel’s center. This could stop any breakout from happening.
APT / USDT 1-H Source: CoinMarketCap
The $8.65 area is currently the main support area for APT. This includes both the horizontal support area and the 0.5 Fib support. Any fall below this level can accelerate a downtrend.
APT / USDT 1-H trading (Source: TradingView
APT’s wave count is giving the crypto a bullish prediction. APT seems to have completed a five-wave movement since October 21. The channel’s movement was likely to be a WX-Y corrective structure. This structure was quite long, indicating that the decrease could have been complete.
If this is the case it could signal a breakout in the channel which will likely lead to an upwards movement in APT’s price. $11.42 will be the first target for this increase.
According to CoinMarketCap. APT is currently trading at $9.25, after a 0.83% rise in price over the previous day. CoinMarketCap also reports that APT is up approximately 23.87% and 10.33% respectively over the past week.
Disclaimer: All views and opinions expressed in this price analysis are published in good faith. Readers must conduct their own research and do their due diligence. Readers take all actions at their own risk. Coin Edition and its affiliates are not liable for any loss or damage, direct or indirect.
The post Aptos’ (APT) Wave Count Gives Crypto a Bullish Prediction appeared first on Coin Edition.