Nectar (Bitfinex: NECETH) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, NEC began a wave one advance in April 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in December 2018, and the red wave two (blue sub-waves a-b-c) correction ended in July this year. If this wave count is correct, NEC should be heading next towards the December 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The Nectar token is a deflationary governance and utility token created originally by Ethfinex. The necDAO just launched yesterday.
(Sources: https://nectar.community/)
How Will Nectar Trade?
Nectar (Bitfinex: NECETH) weekly chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
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