Melon (Kraken: MLNUSD) 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, MLN began a red wave one advance on March 13. The red wave one finished on May 3, and the red wave two correction ended on May 11. The blue sub-wave three advance finished on August 31, and the blue sub-wave four correction ended on September 5. If this wave count is correct, MLN should be heading next towards the August 31 peak in the blue sub-wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Melon is a protocol for decentralized on-chain wealth management. BlockchainBrad interviewed the founder two months ago.
(Sources: https://melonprotocol.com/)How Will Melon Trade?
Melon (Kraken: MLNUSD) 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.
MLN will takeout the August 31 peak
MLN will drop below the August 12 low
MLN will stay in a trading range between the August 12 low and the August 31 peak until October 20