• gertvanlagen

$IRIS, $CHZ, $PBX, $ADA, $SHIB- 25th 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



$IRIS - IRISnet

This token is also known as the Cosmos of China. Will the China crypto ban affect price action of projects like these? Enlighten me in the comments.


Technical analysis:

A huge weekly symmetrical triangle has formed. The important $0.045-$0.07 range has been flipped to support. Given the market cap, price action can go ballistic. From an Elliottwave perspective price is currently ranging either in the 4-5 wave of this bull cycle OR in the sub ii-iii of the 2-3 wave. The latter implies that the biggest move has yet to come. It's very hard to snipe the top of such a small project, such that a strategy based on sniping the top of $BTC and selling alts during the pump that follows seems rigorous enough to snipe at least the proximity of lowcap alt tops.


Targets: ~$0.5, ~$0.8, ~1.5, $7(market cap Cosmos at the moment 23/10), $18, ...


Key support to hold: lower green trend line

Key resistance to break: lower green trend line and ultimately $0.07

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


 

$CHZ - Chiliz

This token is clearly in the midst of a big bull run. DYOR


Elliott wave targets:

  • ~$3 1.618 extension of 3-4 correction;

  • ~$4.5 1.786 extension of 3-4 correction;

  • ~$6.5 2.618 extension of 3-4 correction and extension of green trend line; (main)

Key support to hold: $0.16

Key resistance to break: $0.5-$0.7, ATH

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

 

$PBX - Paribus

This project is a few weeks old: whitepaper. Paribus is a cross-chain lending/borrow platform built on the Cardano blockchain. It aims to achieve liquidity across chains for a vast range of digital assets such as liquidity positions, synthetics, virtual land and NFTs. It still has a negligible market capitalization so I will not provide any targets.

The roadmap shows that most of the implementation will be in 2022. Add to this that the token will be deflationary, implying that hodling this token will always be rewarding in the long run: https://medium.com/@paribus_io/paribus-long-term-value-4341c70990c8.

If this takes off there will be no clue where it will end: at the moon, Saturn or the next galaxy. More information.


Tokenomics:

The figure below shows how the $PBX tokens will be released, because the release of new tokens inflates the asset.


Key support to hold: $0.015

Key resistance to break: $0.018-$0.023

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


 

$ADA - Cardano

This is my key holding and that's why I'm following it closely.


Elliott wave targets before end of year:

  • $4.8 1.272 extension of bear market; (very likely)

  • $22 1.618 extension of bear market and ; (likely, main target) [MC=700B]

  • $47 1.786 extension of bear market; (unlikely) [MC=1400B]

  • $120 2 extension of bear market; (very unlikely) [MC=3600B]


Relevant tweets on short- and long-term timeframes:

 

$SHIB - Shiba Inu

Don't be a fool, #sellyourmemecoins and invest in projects that matter and are not harmful to (the image of) the crypto space as a whole. The project has an insane circulating supply, such that prices per $SHIT are extremely low. Clearly these tokens are engineered to attract simple minds that simply buy tokens with the lowest price available and hope it will reach $1 one day, having zero clue about market capitalization.


 
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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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