• gertvanlagen

$ENJ, $REEF, $XLM, $OGN, $GRT - 27th 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



$ENJ - Enjin Coin

Obviously this project is in a huge bull run. DYOR.


Elliott wave targets 4-5:

  • $10 2 extension of I-II correction; (easily)

  • $24 2.272 extension of I-II correction; (very likely)

  • $38 2.414 extension of I-II correction; (likely)

  • $72 2.618 extension of 3-4 correction; 2.618 extension of I-II correction; (main)

Key support to hold: $1

Key resistance to break: $3


Note: when this plays out, I expect price to fall to the lower trend-line of the green up-ranging channel. This coincides with the 3-4 bottom, which is common place for the depth of retracement of III-IV waves --> to the bottom of the 3-4 wave of one lower order. This is part of the Elliott wave theory.

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".

 

$REEF - Reef Finance

Don't confuse this project with Reefcoin which appears to have had the same ticker: link. It's a very young project so that automatically involves higher risks but also higher potential rewards. Always diversify your portfolio and DYOR. Reef chain integrates the best aspects from commonly used blockchains while maintaining full smart contract compatibility. The market cap it has acquired this fast shows that the project is backed by big money already.


Technical analysis:

It appears that the biggest move for $REEF is yet to come, because the January-March run-up could very well be the 1-2 move up from a 1-2-3-4-5 Elliott impulse wave. Therefore I don't know where this one will end up. Natural targets for a 3-4 wave up are the extensions of the 1-2 correction and can be read directly off the chart.


Key support to hold: $0.025

Key resistance to break: $0.03-$-0.04

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".


 

$XLM - Stellar

Analysis available at: https://www.gertvanlagen.com/post/xlm-1m-multi-year-elliott-wave-analysis

 

$OGN - Origin Protocol

Clearly this token is in the midst of a bull run. It has flipped a major resistance zone to support. This project has a very low market cap, so there is a lot of room to the upside. DYOR.


Technical targets:

  • $5 1.414 ext. of bear market and extension of line through bear market top and 3;

  • $9 1.618 extension of bear market;

  • $26 2 extension of bear market (ext. of channel through B-2-3);

  • $57 2.272 extension of bear market;

Key support to hold: $0.54

Key resistance to break: ATH

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".

 

$GRT - The Graph

Relevant tweets:


Technical analysis:

A huge symmetrical triangle is in play with target of $15.


Key support to hold: higher green trendline of symmetrical triangle

Key resistance to break: $0.9-$1 (shortterm) and $1.4-$2(longterm)

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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