Crypto Contest January 6: ETHLend

ETHLend (LENDETH) 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, ETHLend began a wave one advance on December 22, 2017. The red wave one finished on December 26, 2017, and the red wave two correction ended on December 28, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on December 29, 2017, and the red wave four (blue sub-waves a-b-c) correction ended on January 3 this year. If this wave count is correct, ETHLend should be heading next towards the December 29, 2017 peak in the red wave five.

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

Switching to the four-hour chart, I believe ETHLend is currently in the red wave three (blue sub-wave v). The red wave three began on December 22, 2017.

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

Funnymentals

ETHLend offers fully decentralized peer to peer lending on the Ethereum blockchain. Here is the official introduction video.

(*Source: https://ethlend.io/en/ *)

If you think this analysis is correct, upvote this post and upvote the comment "ETHLend will takeout the December 29, 2017 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "ETHLend will drop below the December 22, 2017 low".

If you think ETHLend is in a range, upvote this post and upvote the comment "ETHLend will stay in a trading range between the December 22, 2017 low and the December 29, 2017 peak until February 6".

You can upvote the comment until 2:20 PM EST January 7 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

I will be sending one Trophy Token to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.