Crypto Contest July 6: Dero

Dero (KuCoin: DEROUSDT) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, DERO began a red wave one advance on May 23. The red wave one peaked on May 24 and the red wave two correction ended on May 29. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 24 and the red wave four (blue sub-waves a-b-c) correction ended on July 2. If this wave count is correct, DERO should be heading next towards the June 24 peak in the red wave five.

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

Zooming out in the weekly chart, I believe DERO is currently in the red wave three (blue sub-wave v). The red wave one began in March 2020 and the red wave two correction ended in November 2020.

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

Funnymentals

Dero is a crypto project that combines a Proof of Work blockchain with a DAG block structure and wholly anonymous transactions. Crypto Chi reviewed Dero two weeks ago.

(Sources: https://dero.io/)

How Will Dero Trade?

Dero (KuCoin: DEROUSDT) 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.

DERO will takeout the June 24 peak

DERO will drop below the May 23 low

DERO will stay in a trading range between the May 23 low and the June 24 peak until August 12