• gertvanlagen

$TRX, $ICX, $SNX, $RUNE, $TLOS - 20th 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



$TRX - Tron

There is no maximum market capitalization for the $TRX token which would withheld me from investing in this project. DYOR.


Elliott wave targets:

  • $0.75 1.272 extension of bear market (ABC) and 2 extension of 3-4 correction;

  • $1.4 1.414 extension of bear market (ABC) and 2.414 extension of 3-4 correction;

Key support to hold: $0.075

Key resistance to break: $0.6-0.8

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


 

$ICX - ICON

This token also does not have a maximum supply. The newly issued tokens come all from staking, which makes it not likely they can just print away. Enlighten me in the comment section if you know more about this.


Technical analysis

Since the 2018 bull market peak price has attempted twice to break the resistance between $2 and $4.6. To show that the current wave up is not a bear flag, price needs to flip this resistance zone and the ATH to support FIRST. If it's indeed an impulsive wave we're dealing with the following targets are identified.


Elliott wave targets:

  • $13 1.272 extension of current ATH to ATL.

  • $50 1.414 extension of current ATH to ATL.

Key support to hold: $2 (weekly close > wicks allowed)

Key resistance to break: $2-$4.6, ATH


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

 

$SNX - Synthetix Network Token

Great review: link

I like the idea behind this project. Clearly this project is in a huge bull run. One tricky thing about this project is that it basically issues synthetic securities. If one of these doesn't register at the SEC, there might be regulatory action coming in. No fud intended, only a small concern I'd have as a $SNX hodler and I think is worth noting before investing.


Elliott wave analysis:

Main target is $175, because of the crazy confluence at this price level:

  • 3.618 extension of the bear market (ABC);

  • 3.618 extension of the 1-2 correction;

  • 2 extension of the 3-4 correction;

  • Projection of channel through 1-2-3-4 end of this year.

(lower targets like $50, $64 and $90 can be read off the chart directly)


Key support to hold: lower trend line of green channel

Key resistance to break: $16-$21

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


 

$RUNE - THORChain

This is a great project: link


Elliott wave analysis:

Main target is $170, because:

  • 2 extension of the 3-4 correction;

  • Projection of channel through 1-2-3-4 end of this year.

(lower (intermediate) targets like $40, $50 and $80 can be read off the chart directly)


Key support to hold: lower trend line of green channel

Key resistance to break: $10-$15

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


 

$TLOS - Telos

There is little data available on TradingView, such that I copied a screenshot from coinmarketcap.com into the viewer. DYOR.


Technical analysis:

Clearly the price is ranging upward in a channel (green).


Targets

  • $3 2.618 extension of correction since May;

  • $5 3 extension of correction since May.

Key support to hold: 0.35, lower green trend line

Key resistance to break: None



 
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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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