Crypto Contest May 14: Telcoin

Telcoin (KuCoin: TELUSDT) 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, TEL began a red wave one advance on April 23. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 11 and the red wave two (blue sub-waves a-b-c) correction ended on May 13. If this wave count is correct, TEL should be heading next towards the May 11 peak in the red wave three.

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

Zooming out in the weekly chart, I believe TEL is currently in the red wave five (blue sub-wave iii). The red wave one began in March 2020 and the red wave four correction ended on April 23 this year.

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

Funnymentals

Telcoin is an Ethereum-based decentralized crypto established in July 2017 in Singapore to be the bridge between cryptos, blockchain and the telecommunication industry. ASSET LIFESTYLE covered the latest news yesterday.

(Sources: https://www.telco.in/)

How Will Telcoin Trade?

Telcoin (KuCoin: TELUSDT) 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.

TEL will takeout the May 11 peak

TEL will drop below the April 23 low

TEL will stay in a trading range between the April 23 low and the May 11 peak until June 20