- 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.