Moonwell (KuCoin: WELLUSDT) 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, WELL began a red wave one advance on February 1. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on March 27 and the red wave two (blue sub-waves a-b-c) correction ended on August 5. If this wave count is correct, WELL should be heading next towards the March 27 peak in the red wave three.
(Chart courtesy of Tradingview.com(log scale))
Funnymentals
Moonwell is an open lending and borrowing protocol on Base, Moonbeam, and Moonriver. Honest Crypto Insights reviewed the project three days ago.
(Sources: https://moonwell.fi/)
How Will Moonwell Trade?
Moonwell (KuCoin: WELLUSDT) 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
WELL will takeout the June 6 peak
WELL will drop below the August 5 low
WELL will stay in a trading range between the August 5 low and the June 6 peak until October 17