Vela Exchange (MEXC: VELAUSDT) 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, VELA began a red wave one advance on February 7. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on February 18 and the red wave two (blue sub-waves a-b-c) correction ended on February 23. If this wave count is correct, VELA should be heading next towards the February 18 peak in the red wave three.
(Chart courtesy of Tradingview.com(log scale))
Funnymentals
Vela Exchange is a permissionless, self-custody driven perpetual exchange built with innovative blockchain architecture to ensure fast transactions, secure trading, and extensibility into additional synthetic options and derivatives. Selected Investments reviewed the project two weeks ago.
(Sources: https://www.vela.exchange/)
How Will Vela Exchange Trade?
Vela Exchange (MEXC: VELAUSDT) daily 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.
VELA will takeout the February 18 peak
VELA will drop below the February 7 low
VELA will stay in a trading range between the February 7 low and the February 18 peak until April 4
