Crypto Contest April 16: NKN

NKN (Bittrex: NKNBTC) 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, NKN began a wave one leading diagonal advance on February 9. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on March 24, and the red wave two (blue sub-waves a-b-c) correction ended on April 11. If this wave count is correct, NKN should be heading next towards the March 24 peak in the red wave three.

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

Funnymentals

NKN is a network connectivity protocol & ecosystem powered by blockchain for an open, decentralized, and shared

About the author: Markus Aarnio

I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.