Crypto Contest April 14: Sovryn

Sovryn (Gate.io: SOVUSDT) 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, SOV began a red wave one advance in September 2021. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked in October 2021 and the red wave two (blue sub-waves a-b-c) correction ended in March this year. If this wave count is correct, SOV should be heading next towards the October 2021 peak in the red wave three.

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

Funnymentals

Sovryn is a non-custodial and permissionless smart contract-based system for Bitcoin lending, borrowing and margin trading. You can watch their latest community call below.

(Sources: https://www.sovryn.app/)

How Will Sovryn Trade?

Sovryn (Gate.io: SOVUSDT) weekly 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.

SOV will takeout the October 2021 peak

SOV will drop below the September 2021 low

SOV will stay in a trading range between the September 2021 low and the October 2021 peak until May 21