Crypto Contest April 19: Loopring

Loopring (Binance: LRCBTC) 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, LRC began a wave one advance on January 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on March 10, and the red wave two (blue sub-waves a-b-c) correction ended on April 14. If this wave count is correct, LRC should be heading next towards the March 10 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Loopring is an open protocol for scalable orderbook DEXs on Ethereum using zkRollup. Defipicks reviewed the project on April 16.

(Sources: https://loopring.org/#/)

How Will Loopring Trade?

Loopring (Binance: LRCBTC) 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.

LRC will takeout the March peak

LRC will drop below the January low

LRC will stay in a trading range between the January low and the March peak until May 23