Crypto Contest August 31: Velo

Velo (KuCoin: VELOUSDT) 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, VELO began a red wave one advance in September 2020. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked in November 2020 and the red wave two (blue sub-waves a-b-c) correction ended on August 6 this year. If this wave count is correct, VELO should be heading next towards the November 2020 peak in the red wave three.

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

Funnymentals

Velo is a blockchain based financial protocol enabling digital credit issuance and borderless asset transfer for businesses using a smart contract system. You can read their latest AMA here.

(Sources: https://velo.org/)

How Will Velo Trade?

Velo (KuCoin: VELOUSDT) daily 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.

VELO will takeout the March 24 peak

VELO will drop below the August 6 low

VELO will stay in a trading range between the August 6 low and the March 24 peak until October 7