• gertvanlagen

$dYdX, $LRC, $XTZ, $AVAX, $VTC - 13th 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


$dYdX - DYDX

Tokenomics:

There seems to be a lot of demand for this token. This is mainly because holding a bag of $dYdX provides certain advantages on the dYdX exchange (dydx.exchange) like lower trading fees. Over the coming 5 years all tokens will be issued, which will inflate the token drastically (especially in the months where this increase is the steepest like at 1.5 years in the chart below). Currently only 6% of the maximum supply is circulating. There is no useful data available to analyse previous price action as the project is only a few months old. If I were holding a bag, I would consider selling at the very last early 2023, because then the circulating supply will triple within a few months.

 

$LRC - Loopring

This is a robust project. Technical targets are provided below.


Target: $2.7 Top of 2018-2020 bear market and 1.618 extension of 2021 high to low.


Key resistance to break: $0.4-0.9 and ATH

Key support to hold: $0.22

 

$XTZ - Tezos

Multi-year inverse head and shoulders is in play with target at $100


Lower targets:

  • $12 top of bear market 2018

  • $30 1.272 extension of bear market 2018

  • $50 1.414 extension of bear market 2018

Key support to hold: $5.6, neck line

Key resistance to break: $11.8, ATH

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

 

$AVAX - Avalanche


Elliott wave analysis:


Targets:

  • $200 1.618 extension of 3-4 countertrend wave;

  • $500 2 extension of 3-4 countertrend wave, and extension of channel through 2,3,4.

Key resistance to break: $64

Key support to hold: $42

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

 

$VTC - Vertcoin

This project has been around since 2014 and still only has a market cap of about 30M. Wouldn't throw a penny at it, especially because it failed at the key resistance.


Key resistance to break: $1.9

Key support to hold: $0.5

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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