- gertvanlagen
$SOV, $MATIC, $OMG $FNDZ, $ERG, $AKRO - 17th 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
$SOV - Sovryn
Tokenomics
The token launched in april 2021, so there will be a more agressive issuance of newly minted tokens over the coming months suppressing price action.
Technical analysis
The token emission schedule leaves room for the price to grow, although it does slow it down. There could be very well another leg up beyond $40 this year.
Key support to hold: $25
Key resistance to break: $40
$MATIC - Polygon
Clearly this project is in a big bullrun.
Elliott wave targets 4-5 (finalizing II-III):
~$7 3.618 extension of bear market and 1.618 extension of 3-4 correction;
~$17 4 extension of bear market and 2.272 extension of 3-4 correction;
$55 4.618 extension of bear market and 3 extension of 3-4 correction;
In 2022 I expect the price to fall as deep as the blue 3-4 wave corrected (~$0.6), such that a huge beartrap (inverse head and shoulders) will be in play. Then the IV-V impulse wave is likely to follow.
Key support to hold: $1
Key resistance to break: $1.5-2
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$OMG - OMG Network
Great in-depth review: link. DYOR.
Technical analysis:
Price has broken the VWAP and key resistance between $5-$11. The setup looks bullish.
Targets before EOY '21:
$30 ATH
$100 1.272 extension of bear market;
$200 1.414 extension of bear market;
$500 1.618 extension of bear market.
Key support to hold: $11
Key resistance to break: ATH at $30
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$FNDZ - FNDZ
This project is only a month old. DYOR to decide whether this token has potential. Often a launch starts with a short hick-up and then a big dump by early investors.
Tokenomics: https://medium.com/fndz/fndz-to-launch-ido-on-trustpad-b0e99430e599
$ERG - Ergo
Great in-depth review: link. Seems like a big Cardano DAO gem. DYOR.
Elliott wave:
Targets before EOY '21 (yellow box):
$100 1.272 extension of bear market;
$200 1.414 extension of bear market;
$600 1.618 extension of bear market.
Key support to hold: $7.5
Key resistance to break: ATH at ~$23
$AKRO - Akropolis
Some insight: link. DYOR.
Technical Analysis:
A big cup and handle pattern is in play with target at $2.4.
Elliott wave:
Targets before EOY '21 (yellow box):
$0.5 1.618 extension of bear market cup;
$2.4 2 extension of bear market cup;
Key support to hold: $0.02
Key resistance to break: $0.04 confluent with VWAP resistance (yellow line)
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
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