Crypto Contest April 27: Kyber Network

Kyber Network (Binance: KNCUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, KNC began a wave one advance on November 25, 2019. The red wave one finished on December 6, 2019, and the red wave two correction ended on December 27, 2019. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on March 7 this year, and the red wave four (blue sub-waves a-b-c) correction ended on March 13. If this wave count is correct, KNC should be heading next towards the March 7 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

Zooming out in the weekly chart, I believe KNC is currently in the red wave three (blue sub-wave v). The red wave three began on November 25, 2019.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Kyber Network is an on-chain liquidity protocol that aggregates liquidity from different sources. BlockchainBrad interviewed the CEO back in March this year.

(Sources: https://kyber.network/)

How Will Kyber Network Trade?

Kyber Network (Binance: KNCUSD) daily chart by Tradingview.

(Chart courtesy of Tradingview.com (log scale))

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below.

KNC will takeout the March 7 peak

KNC will drop below the March 13 low

KNC will stay in a trading range between the March 13 low and the March 7 peak until May 31

Posted Using LeoFinance