Crypto Contest July 29: Velodrome Finance

Velodrome Finance (OKX: VELODROMEUSDT) 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, VELODROME began a red wave one advance on June 15. The red wave one peaked on June 22 and the red wave two correction ended on July 10. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on July 18 and the red wave four (blue sub-waves a-b-c) correction ended on July 24. If this wave count is correct, VELODROME should be heading next towards the July 18 peak in the red wave five.

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

Funnymentals

Velodrome is an AMM designed as the central trading and liquidity marketplace on Optimism Network. BinanceStuff reviewed the project three weeks ago.

(Sources: https://app.velodrome.finance/)

How Will Velodrome Finance Trade?

Velodrome Finance (OKX: VELODROMEUSDT) daily chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers (posts only).

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

VELODROME will takeout the July 18 peak

VELODROME will drop below the July 10 low

VELODROME will stay in a trading range between the July 10 low and the July 18 peak until September 3

Posted Using LeoFinance Alpha