Venus (Binance: XVSUSDT) 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, XVS began a red wave one advance on October 13. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on October 18 and the red wave two (blue sub-waves a-b-c) correction ended on October 20. If this wave count is correct, XVS should be heading next towards the October 18 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Venus is building an algorithmic money market protocol that is exclusively on Binance Smart Chain to enable lending and borrowing of assets, as well as generation of synthetic stablecoins. Defi Daily covered the project three weeks ago.
(Sources: https://venus.io/)
How Will Venus Trade?
Venus (Binance: XVSUSDT) four-hour chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
Prizes
I will be giving upvotes to the correct answers.
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.
XVS will takeout the October 17 peak
XVS will drop below the October 13 low
XVS will stay in a trading range between the October 13 low and the October 17 peak until November 27
XVS will drop below the October 13 low
Correct. Upvoted your comment:
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