- gertvanlagen
$NULS, $HT, $ARPA, $INJ, $DOGE- 23rd 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
$NULS - Nuls
This token has been around since 2018, and lost 99.9% of it's value in the 2018-2020 bear market and has a very tiny market capitalization. This could be a 1-2 correction but also a sign that the project is 'dead', because the current mark-up could be a dead-cat bounce. Price got rejected at the key resistance zone earlier this year. I would not enter this project before this resistance has been broken.
Key support to hold: Green rising trend line
Key resistance to break: $1.6-$3.3
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$HT - Huobi Token
This token is clearly in the midst of a big bull run. Exchange tokens have always utility but is heavily dependent on the popularity of the exchange. That's the main reason why I personally do not hold any of it (BNB, GT, FTT, etc.).
Main Elliott wave target is $65:
2.272 extension of I-II correction;
1.272 extension of 3-4 correction;
Extension of channel through I-II-2-3-4
Key support to hold: lower green trendline
Key resistance to break: $8.5-26, ATH
When the main target is met, I expect price to retrace to the lower side of the channel but remain above $6: III-IV > I
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$ARPA - ARPA Chain
This project is clearly in a huge bull run and might continue explosively due to it's low market cap. DYOR. On the chart I sketched a scenario which can very well play out if this token does not get a moonshot. It's hard to say where a token with such a micro cap ends up, that's why you need to keep tracking it when holding.
Elliott wave analysis targets:
$0.4 1.618 extension of bear market; (very likely)
$1.2 2 extension of bear market; (likely)
$2.6 2.272 extension of bear market; (possible)
$7 2.618 extension of bear market; (unlikely)
$22 3 extension of bear market; (very unlikely)
$140 3.618 extension of bear market; (highly unlikely)
Key support to hold: lower green trend line, $0.14
Key resistance to break: None
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$INJ - Injective Protocol
This utility token for NFTs has seen crazy gains over the current bull run so far. Will it continue? DYOR.
Elliott wave analysis targets:
$80 1.618 extension of 3-4 correction;
$155 2 extension of 3-4 correction;
$250 2.272 extension of 3-4 correction, extension of channel through 2-3-4;
Key support to hold: lower green trend line
Key resistance to break: $14-$19
NOTE: the 3-4 wave and start of the 4-5 wave have formed an inverse head and shoulder pattern with a target at ~$80
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$DOGE - Dogecoin
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. This coin does not have a maximum supply and is a bubble that will eventually pop.
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