Aptos (APT) is an independent Layer 1 blockchain platform focused on safety and scalability driving growth within a decentralized network and developer ecosystem. In today’s blog, we’ll dive into the daily Elliott Wave structure taking place and show the potential outcome for the coin.
On the 5th of August 2024, APT ended a corrective Zigzag structure at $4.32 then turned higher from there. The coin started rallying within an impulsive structure and it reached the initial target area at $8.7 – $9.5. It’s expected to soon end wave 3 and then pullback in wave 4 before another push higher in wave 5.
APT continues to create a higher high sequence followed by a higher low and therefore the next short term pullback is expected to remain supported above 10/1 low $7.23. The upside move could extend toward the 1.618 Fibonacci extension from August low at $10.7 and the coin can end wave (1) there before starting a larger pullback in wave (2).
APT daily chart 10.8.2024
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