Cryptocurrencies Price Prediction: Ethereum, Aptos & IOTA – American Wrap 13 May
Aptos trading volume hit 30-day peak after $65 million token unlock: How will APT price react?
APT token faced high-volume volatility on Tuesday after a $65 million unlock, but derivatives traders remain net long despite losses.
Ethereum’s correction is done; $6000+ next?
In our previous update, we showed that per the Elliott Wave (EW) Principle, Ethereum (ETH) was completing the red Wave-c (W-c) as part of the large black W-4. See Figure 1 below. In this case, the 4th wave is, in EW terms, a running flat where the red W-c failed to go below the red W-a. Besides, from a technical pattern perspective, we also showed Ethereum is most likely forming a Bull flag pattern (black dotted lines). The flagpole was the rally from the 2020 low to the 2021 ATH. The flag is the sideways 4th wave pattern, and a breakout can then target $6100+.
IOTA could be on the way back to December 2024 highs
IOTA with ticker IOTUSD made sharp and impulsive rally at the end of 2024, which we see it as a first leg (A)(1) of a bigger recovery in minimum three waves (A)(1)-(B)(2)-(C)(3). Since the beginning of 2025, Crypto market slowed down and IOTA made a deep retracement, but in three legs ABC with an ending diagonal/wedge pattern into wave C, which indicates for a correction in wave (B)(2).
Author
FXStreet Team
FXStreet
