Crypto Contest April 23: Kyber Network

Kyber Network (KNCUSD) 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, Kyber Network began a wave one advance on November 3, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 9 this year, and the red wave two (blue sub-waves a-b-c) correction ended on April 5. If this wave count is correct, Kyber Network should be heading next towards the January 9 peak in the red wave three.

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

Funnymentals

Kyber Network is on-chain, instant and liquid platform for exchange and payment service. Inchained explained how the exchange works on March 24.

(Sources: https://kyber.network/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Kyber Network will takeout the January 9 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Kyber Network will drop below the April 5 low".

If you think Kyber Network is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Kyber Network will stay in a trading range between the April 5 low and the January 9 peak until May 29".

You can upvote the comment until 3 PM EST April 26 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 (@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.