Crypto Contest November 24: Everex
Everex (Binance: EVXETH) 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, Everex began a wave one advance on June 30. The red wave one finished on July 3, and the red wave two correction ended on August 3. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on October 6, and the red wave four (blue sub-waves a-b-c) correction ended on November 20. If this wave count is correct, Everex should be heading next towards the October 6 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
If we look at the line chart, we can see that there is no overlapping between red waves one and four.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Everex is a blockchain-based capital transfer system that aims to enable and ease the financial inclusion of unbanked, or underbanked people around the world. You can view their latest AMA below.
(Sources: https://www.everex.io/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Everex will takeout the October 6 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Everex will drop below the August 3 low".
If you think Everex is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Everex will stay in a trading range between the August 3 low and the October 6 peak until December 29".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST November 27 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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Everex will drop below the August 3 low (10 voters as of 3 PM EST November 27: bleujay, sqlinsix, bentleycapital, allyouneedtoknow, novus-locus, ace108, vicspics, jznsamuel, reconnectnature, sporttr).
Everex will stay in a trading range between the August 3 low and the October 6 peak until December 29 (12 voters as of 3 PM EST November 27: gregory-f, abh12345, mellofello, diana.feuerberg, freiheit50, skepticology, toofasteddie, crokkon, kunschj, steem-d-anlovnit, starline, diogosantos).
You won. Paid out from @maarnio1
Everex will takeout the October 6 peak (4 voters as of 3 PM EST November 27: barbadosso, lydon.sipe, steemit.nemesis, galasek).
Hope so..
if this positive candle breakout sustain then it could be....
I just took a sneak peek into their project and I must say that it did not transferred me much confidence.
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