Memetic (Bittrex: MEMEUSD) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Memetic began a wave one advance in December 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in December 2017, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Memetic should be heading next towards the December 2017 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Memetic is a Proof of Stake cryptocurrency platform for the Kekdaq decentralized exchange and IPFS meme storage platform. You can view their official explainer video below.
(Sources: Memetic and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Memetic will takeout the October 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Memetic will drop below the December 2018 low".
If you think Memetic is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Memetic will stay in a trading range between the December 2018 low and the October 2018 peak until March 2".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST January 29 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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