Crypto Contest March 11: Nexus

Nexus (Bittrex: NXSUSD) 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, Nexus began a wave one advance in August 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 November 2018. If this wave count is correct, Nexus should be heading next towards the January 2018 peak in the red wave three.

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

Funnymentals

Nexus focuses on solving the current challenges of speed and scalability in the blockchain industry and provides quantum resistance

About the author: Markus Aarnio

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