Crypto Contest April 24: OKExChain

OKExChain (OKEx: OKTBTC) 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, OKT began a red wave one advance on March 22. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on April 8 and the red wave two (blue sub-waves a-b-c) correction ended on April 20. If this wave count is correct, OKT should be heading next towards the April 8 peak in the red wave three.

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

Zooming out in the daily chart, I believe OKT is currently in the red wave three (blue sub-wave iii). The red wave one began on February 9 and the red wave two correction ended on March 22.

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

Funnymentals

OKT is the native token of the OKExChain ecosystem, providing immediate utility and benefits — such as voting rights, staking privileges and transaction fee payment — for decentralized exchanges and other DeFi applications built on the network. You can read their latest monthly report here.

(Sources: https://www.okex.com/okexchain)

How Will OKExChain Trade?

OKExChain (OKEx: OKTBTC) 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.

OKT will takeout the April 8 peak

OKT will drop below the March 22 low

OKT will stay in a trading range between the March 22 low and the April 8 peak until May 31