Crypto Contest May 9: LABEL Foundation

LABEL Foundation (PancakeSwap: LBLUSD) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, LBL began a red wave one advance on April 18. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on April 25 and the red wave two (blue sub-waves a-b-c) correction ended on May 6. If this wave count is correct, LBL should be heading next towards the April 25 peak in the red wave three.

(Chart courtesy of Tradingview.com)

Funnymentals

LABEL is an unparalleled NFT infrastructure built on top of Ethereum Network, powered by LBL utility and governance token to establish a fair profit-sharing ecosystem with the permissionless integration of IP rights. Cryptology News reviewed the project six months ago.

(Sources: https://label.foundation/)

How Will LABEL Trade?

LABEL Foundation (PancakeSwap: LBLUSD) four-hour chart by Tradingview.

(Chart courtesy of Tradingview.com)

Prizes

I will be giving upvotes to the correct answers (posts only).

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.

LBL will takeout the April 25 peak

LBL will drop below the April 18 low

LBL will stay in a trading range between the April 18 low and the April 25 peak until June 15