Crypto Contest May 5: VITE

VITE (Binance: VITEUSDT) 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, VITE began a red wave one advance on December 24, 2020. The red wave one peaked on February 19 this year and the red wave two correction ended on February 23. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on April 10 and the red wave four (blue sub-waves a-b-c) correction ended on April 23. If this wave count is correct, VITE should be heading next towards the April 10 peak in the red wave five.

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

Zooming out in the weekly chart, I believe VITE is currently in the red wave three (blue sub-waves v). The red wave one began on March 12, 2020 and the red wave two correction ended on December 24, 2020.

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

Funnymentals

Vite has built a Directed Acyclic Graph (DAG) based smart-contract platform, with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. You can watch their latest AMA below.

(Sources: https://www.vite.org/)

How Will VITE Trade?

VITE (Binance: VITEUSDT) 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.

VITE will takeout the April 10 peak

VITE will drop below the February 23 low

VITE will stay in a trading range between the February 23 low and the April 10 peak until June 11