• gertvanlagen

$ALICE, $IOST, $ULTI, $QRDO, $NWC- 29th draw October challenge

The higher a target, the more likely a lower target will be the cycle top. Highest targets are deemed possible when the total market capitalization grows to 10T EOY '21.

--> link to challenge dashboard



$ALICE - MyNeighborAlice

This is an in-game governance token and hence heavily depends on the popularity of a single game. I'd rather invest in projects that are deployable in multiple ways. DYOR. More information.


Tokenomics:

Over the coming months (until EOY) another 4.3% of the maximum supply will be released on top of the current circulating supply, inflating the token by 15%. This is not enough to stop a bull run from playing out.

Technical targets when resistance is broken:

  • $30 1.272 extension of bear market;

  • $39 1.618 extension of bear market;

  • $48 2 extension of bear market;

  • $63 2.618 extension of bear market;

Key support to hold: $12

Key resistance to break: $15-$19

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made. Also you can zoom in using the price and time bar. The chart is also "toggleable".

 

$IOST - IOST

Clearly this project is in the midst of a bull run and struggles with breaking its previous ATH. A multi-year inverse head and shoulders pattern has formed with main target at $2.2.


Elliott wave analysis | targets 4-5 wave:

  • $0.3 1.618 extension of 3-4 correction; 1.414 extension of bear market;

  • $0.6 2 extension of 3-4 correction; 1.618 extension of bear market;

  • $2.2 2.618 ext. of 3-4 correction; 2 ext. of bear market; ext. of trend line through 1 and 3;


Key support to hold: ATH

Key resistance to break: $0.037

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made. Also you can zoom in using the price and time bar. The chart is also "toggleable".


 

$ULTI - Ulti Arena

Ulti Arena is a NFT marketplace for Game Assets with Proof of Gaming. The whitepaper looks good, apart from the burn table at page 12 filled with most random amounts of tokens. The website is a bit screamy but seems to be well maintained. DYOR.


Tokens with such a small market cap (~5 million) are like penny stocks. Some will succeed, most will fail. Therefore, be extremely cautious before investing in such a project. It's not even a month old, so there's nothing to say about targets. First structure needs to be formed to analyze the charts. Observing that only 7.5B out of 204B tokens are released yet (source) it can be concluded that there might be a lot more downside due to inflation of newly released tokens. From the tokenomics tab on their website it's not clear to me how the remaining tokens will be released. No way I would invest in a project at this stage, for me it would be equivalent to gambling.

 

$QRDO - Qredo

Qredo works at the cutting-edge of cybersecurity and blockchain. By utilizing the latest innovations in cryptography and distributed ledger technology, Qredo delivers a powerful global network for securing and trading digital assets.
Tokenomics:

To me it's not clear at what pace the tokens are released. If this is too aggressive, price will be heavily influenced by release inflation. The x-axis of the release schedule doesn't have a caption that indicates in what time frame the chart is constructed (months, years, weeks, days?). The website looks good and professional.


Be extremely cautious before investing in such a low cap project. It's only a few months old, so there's little to say about targets. First structure needs to be formed to analyze the charts. Overall, it at least seems to be a better gamble than $ULTI.

 

$NWC - Newscrypto Coin

Tokenomics

This token is clearly in the midst of a bull run (yellow elliott wave). The roadmap can be found here. It's not clear to me how the tokens are being released, some info. Make sure you know this before entering a position in $NWC, because a too agressive release schedule inflates the token drastically. I couldn't find it, so feel free to add a direction in the comments. DYOR.

The NewsCrypto token (NWC) is the native token of the NewsCrypto ecosystem, which offers a comprehensive set of indicators, educational resources and entertainment for everyone from novice traders to experts in crypto. The project aims to offer everything that a crypto trader needs in one place, while also creating a community-focused ecosystem where users can learn from each other and earn NWC for posting quality content.

Elliott wave analysis:

Main target when key resistance is broken: $12

  • 3.618 extension of bear market;

  • 2 extension of yellow 3-4 correction;

  • Extension of green trendline.

Key support to hold: $0.64

Key resistance to break: $1.2-$1.6 (shortterm) and ATH at $2.3


(Lower targets can be read directly from the graph)

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made. Also you can zoom in using the price and time bar. The chart is also "toggleable".

 
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DISCLAIMER: The targets that I identify are based on Technical Analysis and are by no means guarantees that these will be met. You can use (intermediate) targets to build your trading strategy to determine which price targets are strong take profit or stop loss levels. Always do your own research and don't blame me for your own trading decisions.
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