• gertvanlagen

$ONT, $CELO, $BEL, $OCEAN, $STMX - 30th 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



$ONT - Ontology

It's not clear whether this token is in the midst of a bull run or not. Due to the issuance of new tokens the price chart not always reflects the best whether money seeps into a project or not.

The market cap is clearly in an uptrend and it looks like that the price is finalizing a symmetrical triangle here. Nice coverage: link.



Technical targets (FIRST break resistance!):

  • $40 1.272 extension of bear market; (very possible)

  • $70 1.414 extension of bear market; (possible)

  • $165 1.618 extension of bear market; (unlikely)

Key support to hold: $1

Key resistance to break: $2.6-$5.3, 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".

 

$CELO - Celo

The release schedule of the 1B $CELO tokens exceeds 2050. It seems quite steep, but this is actually a very slow pace which makes that the token supply does not inflate too much over just a couple of months.


From the market cap it is clear that this project is in a bull run.


Technical analysis:

This coin has been ranging upward in the green channel since it's launch. Looking at the market cap distribution, a lot of money has flown into this project this year, so there is solid demand. It wouldn't surprise me if price breaks this channel to the upside, because a cup and handle pattern has formed with a target of $35.


Targets:

  • $19 1.618 extension of cup and handle;

  • $35 2 extension of cup and handle;

  • $90 2.618 extension of cup and handle;

Key support to hold: $5

Key resistance to break: ATH and upper trendline of channel


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".

 

$BEL - Bella Protocol

Tokenomics: link

Technical analysis:

This is a project with a very small market cap. It seems legit, but DYOR on such lowcap projects. The chart suggests that the biggest move this bull run has yet to come. Targets it may hit can be read directly from the chart below. ($10, $20, $30, $50, $135). The peak will likely be in the close proximity of $BTC's peak, which I expect in the second half of December. Price has been squeezed into the apex of a symmetrical triangle and seems to break out to the upside (target $50).


Key support to hold: Lower yellow trend line

Key resistance to break: $3.4-$5.7

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".


 

$OCEAN - Ocean Protocol

This project is clearly in the middle of a huge bull run. DYOR.


Elliott wave targets of 4-5:

  • $5 2 extension of 3-4 correction; (very likely)

  • $9 2 extension of 3-4 correction and channel extension through 2-3-4 (main, likely);

  • $24 2.618 extension of 3-4 correction; (unlikely)

Key support to hold: lower trend line of green channel

Key resistance to break: $1-$1.25

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".

 

$STMX - StormX

It''s not clear whether this is in the middle of a huge bull run or not. When it breaks the key resistance zone $0.025-$0.07 and flips it to support quickly, it might fly as high as $1.35 DYOR.


Interesting link: https://stormx.io/token


Elliott wave targets of 4-5:

  • $0.25 ATH

  • $1.35 1.272 extension of bear market and extension of channel through 2-3-4;


Key support to hold: lower trend line of green channel

Key resistance to break: $0.025-$0.07

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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