Crypto Contest May 19: EdgeSwap

EdgeSwap (Gate.io: EGSUSDT) 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, EGS began a red wave one advance on May 12. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 14 and the red wave two (blue sub-waves a-b-c) correction ended on May 18. If this wave count is correct, EGS should be heading next towards the May 14 peak in the red wave three.

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

Funnymentals

EdgeSwap is an Ethereum-based layer 2 trading protocol that adopts the ZK Rollup technology. The Brutal Investor reviewed the project last month.

(Sources: https://www.edgeswap.io/)

How Will EdgeSwap Trade?

EdgeSwap (Gate.io: EGSUSDT) four-hour chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers (posts only).

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.

EGS will takeout the May 14 peak

EGS will drop below the May 12 low

EGS will stay in a trading range between the May 12 low and the May 14 peak until June 25