APTOS (APT) last buying area before rally above $19

Elliott Wave Forecast Team ElliottWave-Forecast.com

APTOS APT rallied for 5 straight Months since August 2024 and made +255% move before the recent 45% drop. We discussed in our previous October 2024 Article how the coin established an impulsive bullish structure and most importantly why the next pullback will remain supported.

APTOS ended an impulsive 5 waves advance on December 2024 in wave (1) and it did pullback in wave (2) within a classical 3 waves ZigZag structure. In addition, the correction traded lower into our technical equal legs area $9.8 – $8.6 so we expect the coin to turn higher from there as long as it stays above $6.76.

The blue box showing in our chart is a technical area where we expect Aptos to find Buyers and react higher. After that, we expect the coin to start a new 5 waves advance or at least bounce in 3 waves from there. That is to say, the initial target for the wave (3) comes at $19.5 and extension higher will aim for $22 – $26.

APTOS daily chart 1.5.2025

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

EUR/USD meets initial support around 1.1800

EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

RBNZ set to pause interest-rate easing cycle as new Governor Breman faces firm inflation

The Reserve Bank of New Zealand remains on track to maintain the Official Cash Rate at 2.25% after concluding its first monetary policy meeting of this year on Wednesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.