Crypto Contest September 6: Phala Network

Phala Network (Huobi: PHAUSDT) 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, PHA began a red wave one advance on September 11, 2020. The red wave one peaked on September 15, 2020 and the red wave two correction ended on November 26, 2020. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on May 15 this year and the red wave four (blue sub-waves a-b-c) correction ended on July 21. If this wave count is correct, PHA should be heading next towards the May 15 peak in the red wave five.

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

Funnymentals

Phala Network offers trustless and private computation cloud with blockchain technologies. The Brutal Investor reviewed the project five days ago.

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

How Will Phala Network Trade?

Phala Network (Huobi: PHAUSDT) 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.

PHA will takeout the May 15 peak

PHA will drop below the May 24 low

PHA will stay in a trading range between the May 24 low and the May 15 peak until October 13