Crypto Contest July 19: NEM

NEM (Poloniex: XEMUSD) 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, XEM began a red wave one advance in September 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in March this year. If this wave count is correct, XEM should be heading next towards the January 2018 peak in the red wave three.

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

Funnymentals

NEM offers flexible and customizable blockchain solutions to businesses through simple, yet powerful, built-in features. You can read their latest blog post here.

(Sources: https://www.nem.io/)

How Will XEM Trade?

NEM (Poloniex: XEMUSD) weekly 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.

XEM will takeout the February peak

XEM will drop below the March low

XEM will stay in a trading range between the March low and the February peak until August 24