Crypto Contest May 8: Aeternity

Aeternity (AEBTC) 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, Aeternity began a wave one advance on March 18. The wave one finished on March 30, and the wave two correction ended on April 9. The wave three advance finished on April 29, and the wave four correction ended on May 7. If this wave count is correct, Aeternity should be heading next towards the April 29 peak in the wave five.

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

Aeternity began trading on Binance only in February 2018. For longer term charts we have to check CoinMarketCap. I believe Aeternity is currently in the wave three in the longer term (USD) charts. The wave three began on March 18.

(Chart courtesy of CoinMarketCap.com)

Funnymentals

Aeternity is a scalable blockchain platform that enables high-speed transacting, purely-functional smart contracts, and decentralized oracles. Crypto Fiend published a short coin review on April 28.

(Sources: https://www.aeternity.com/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Aeternity will takeout the April 29 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Aeternity will drop below the April 9 low".

If you think Aeternity is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Aeternity will stay in a trading range between the April 9 low and the April 29 peak until June 13".

You can upvote the comment until 3 PM EST May 11 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus

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