Enjin Coin (HitBTC: ENJUSD) 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, ENJ began a red wave one advance on March 13. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 28, and the red wave two (blue sub-waves a-b-c) correction ended on June 27. If this wave count is correct, ENJ should be heading next towards the May 28 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the weekly chart, I believe ENJ is currently in the red wave three (blue sub-wave iii). The blue sub-wave iii began on March 13.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Enjin Coin is an Ethereum-based cryptocurrency used to directly back the value of "next-generation" blockchain assets. Coin Bureau reviewed the token three months ago.
(Sources: https://enjin.io/)How Will Enjin Coin Trade?
Enjin Coin (HitBTC: ENJUSD) 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.
ENJ will takeout the May 28 peak
ENJ will drop below the May 10 low
ENJ will stay in a trading range between the May 10 low and the May 28 peak until August 9