- gertvanlagen
$ZIL, $XDC, $NEO, $PUNDIX, $ICP - 21st draw October challenge
Updated: Oct 21, 2021
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
$ZIL - Zilliqa
This token is clearly in the midst of a bullrun.
Main Elliott wave target: $0.94
1.272 extension of bear market
top of channel through 2-3-4 EOY.
Key support to hold: $0.09 (green range between 0.618-0.786)
Key resistance to break: $0.25 (ATH)
(other targets can be read off the chart directly)
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$XDC - XDC Network
This token also does not have a maximum supply and is clearly in a bull run. I wouldn't be surprised when this token first breaks down to the lower green trend line and then hit $1 end of year.
Main Elliott wave target is $1:
2.618 extension of 3-4 correction wave
extension of the channel through 1-2-3-(4)
Key support to hold: LTF $0.009-$0.01 -> does not hold? -> HTF $0.04 lower trend line
Key resistance to break: ATH
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$NEO - NEO
This project is also called the Chines Ethereum, don't know whether that's a compliment or a threat. DYOR.
Elliott wave analysis:
Main target is $600:
1.272 extension of the bear market (ABC);
2 extension of the 3-4 correction;
Projection of expanding raising wedge through 0-1-3-4 end of this year.
(lower targets like can be read off the chart directly)
Key support to hold: lower green trend line
Key resistance to break: $45-90
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$PUNDIX - Pundi X
Background articles and information:
Technical analysis:
The chart does look bad from a technical perspective. For me it first needs to break the resistance zone and ultimately it's ATH before having another look at it. Enlighten me in the comment section if and why you disagree.
Key support to hold: $1
Key resistance to break: $2.7-$4
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
$ICP - Internet Computer
Thorough breakdown: https://www.coinbureau.com/review/dfinity-icp/
Technical analysis:
Symmetrical triangle in play. Price is broke back above the weekly VWAP and is now struggling to beat the monthly VWAP (resistance). Trading setup is provided in the chart below. Note that the smartest entry is after a successful retest of the upper trend line (after a break-out obviously). Always set a stop loss.
Target: 400$+
Will be updated once it starts moving.