• gertvanlagen

$BNB, $AGIX, $ZRX, $RAY, $EFI- 12th 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


$BNB - Binance Coin

Elliott wave analysis:


Currently price is within the 4-5 wave(blue) of the II-III macro impulse wave(yellow).


Target EOY '21 is $2000, because:

  • 3.272 extension of the 2018 bear market (I-II);

  • 3 extension of the 1-2 countertrend wave;

  • 2 extension of the 3-4 countertrend wave;

  • Top of yellow channel.

In 2022 I expect price to fall to the lower yellow trend line parallel to the line through 1, 3, 5 and III.

The '22 bottom is likely to be $200, because the III-IV wave usually corrects as deep as the bottom of the 3-4 correction of the II-III wave. (dashed horizontal line) A bear trap like a huge head and shoulders pattern on the dashed line could be formed, after which the IV-V impulse can be initiated.




Live chart (zoomed in):


 

$AGIX - SingularityNET

This project has been around for some years already, but the biggest announcement was made in March this year, which is elaborated in-depth in this blog: link. Because of this news, I expect $AGIX to rally before end of this year.


Targets:

  • $4.5 1.272 extension of 2018-2020 bear market;

  • $9 1.414 extension of 2018-2020 bear market;

  • $25 1.618 extension of 2018-2020 bear market (30B MCAP).


Key resistance to break: $0.50 and ATH

Key support to hold: $0.2


 

$ZRX - 0x

Targets:

  • $2.7 1.272 extension of bear market 2019-2020

  • $6.6 1.414 extension of bear market 2019-2020

  • $10.5 1.618 extension of bear market 2019-2020

  • $20 2 extension of bear market 2019-2020

Key support to hold: $0.8

Key resistance to break: $1.4 and later upper trendline of raising channel


Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$RAY - Raydium


Target cup and handle pattern: ~$100 EOY '21.


Lower targets:

  • $50 1.618 extension of cup;

  • $35 1.414 extension of cup

  • $27 1.272 extension of cup

Key resistance to break: $16.2

Key support to hold: $7.8

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$EFI - Efinity

Built on Polkadot in partnership with Parity Technologies and the Web3 Foundation, Efinity is a new blockchain that's purpose-built for NFTs. It's a token highway designed to enable a specific kind of future—where NFTs are as widespread and easy to use as smartphones today.

This is a very young project of the successful Enjin team with a really small market cap. Beware that only 3% of the total market cap has been issued and that over the coming months giant amounts of Efinity tokens will be released.


Descending triangle is in play on the weekly:

Key resistance to break: upper yellow trendline

Key support to hold: lower yellow trendline at $0.7


Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.



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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