Crypto Contest October 5: Elrond

Elrond (Binance: EGLDUSDT) 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, EGLD began a red wave one advance on June 22. The red wave one peaked on July 5 and the red wave two correction ended on July 20. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on September 14 and the red wave four (blue sub-waves a-b-c) correction ended on September 21. If this wave count is correct, EGLD should be heading next towards the September 14 peak in the red wave five.

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

Zooming out in the weekly chart, I believe EGLD is currently in the red wave three. The red wave one began in October 2020 and the red wave two correction ended on June 22 this year.

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

Funnymentals

Elrond is a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy. You can watch their latest presentation below.

(Sources: https://elrond.com/)

How Will Elrond Trade?

Elrond (Binance: EGLDUSDT) 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.

EGLD will takeout the September 14 peak

EGLD will drop below the September 7 low

EGLD will stay in a trading range between the September 7 low and the September 14 peak until November 12