Crypto Contest July 30: Synthetix Network Token
Synthetix Network Token (KuCoin: SNXUSDT) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, SNX began a red wave one advance on March 16. The red wave one finished on May 8, and the red wave two correction ended on May 28. The red wave three advance finished on July 20, and the red wave four correction ended on July 27. If this wave count is correct, SNX should be heading next towards the July 20 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the weekly chart, I believe SNX is currently in the red wave three. The red wave three began on March 16.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Synthetix is a derivatives liquidity protocol on Ethereum that enables the issuance and trading of synthetic assets. Coin Bureau reviewed the project earlier this year.
(Sources: https://www.synthetix.io/)How Will Synthetix Network Token Trade?
Synthetix Network Token (KuCoin: SNXUSDT) 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.
SNX will takeout the July 20 peak
SNX will drop below the July 14 low
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
Posted Using LeoFinance
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
SNX will takeout the July 20 peak
Correct.
SNX will drop below the July 14 low
SNX will drop below the July 14 low
SNX will takeout the July 20 peak
Correct.
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
SNX will takeout the July 20 peak
Correct.
SNX will takeout the July 20 peak
Correct.
SNX will drop below the July 14 low
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
!BEER
for you
!BEER
Posted Using LeoFinance
View or trade
BEER
.Hey @eii, here is a little bit of
BEER
from @maarnio for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER
.View or trade
BEER
.Hey @maarnio, here is a little bit of
BEER
from @eii for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER
.SNX will takeout the July 20 peak
Correct.
SNX will takeout the July 20 peak
Correct.
SNX will takeout the July 20 peak
Correct.
SNX will takeout the July 20 peak
Correct.
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
SNX will drop below the July 14 low
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
SNX will takeout the July 20 peak
Correct.
SNX will drop below the July 14 low
SNX will takeout the July 20 peak
Correct.
👍🏾
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
SNX will drop below the July 14 low
SNX will stay in a trading range between the July 14 low and the July 20 peak until September 4
SNX will drop below the July 14 low