XELS (Bittrex: XELSUSDT) 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, XELS began a red wave one advance on April 18. The red wave one peaked on April 22 and the red wave two correction ended on April 25. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on May 1 and the red wave four (blue sub-waves a-b-c) correction ended on May 14. If this wave count is correct, XELS should be heading next towards the May 1 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the daily chart, I believe XELS is currently in the red wave three. The red wave one began on April 8 and the red wave two correction ended on April 18.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Xels is a blockchain-based platform where corporations and individuals can buy tokenized carbon offset credits easily and transparently. Cryptology News covered the project last month.
(Sources: https://xels.io/)How Will XELS Trade?
XELS (Bittrex: XELSUSDT) 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.
XELS will takeout the May 1 peak
XELS will drop below the April 18 low
XELS will stay in a trading range between the April 18 low and the May 1 peak until June 21
