Crypto Contest August 11: Raydium

Raydium (FTX: RAYUSD) has broken out of the triangle pattern in the one-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, RAY began a red wave one advance on August 9. The red wave three (blue sub-waves i-ii-iii-iv-v) peaked on August 10 and the red wave four (blue sub-waves a-b-c) correction ended later on August 10. If this wave count is correct, RAY should be heading next towards the August 10 peak in the red wave five.

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

Funnymentals

Raydium is an automated market maker and liquidity provider built on the Solana blockchain for the Serum decentralized exchange. Crypto Renegade reviewed the project last month.

(Sources: https://raydium.io)

How Will Raydium Trade?

Raydium (FTX: RAYUSD) one-hour chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

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.

RAY will takeout the August 10 peak

RAY will drop below the August 9 low

RAY will stay in a trading range between the August 9 low and the August 10 peak until September 17