Crypto Contest March 19: Achain

Achain (Huobi: ACTUSDT) 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, Achain began a wave one advance on January 11 this year. The red wave one finished on January 13, and the red wave two correction ended on January 28. The red wave three advance finished on February 23, and the red wave four correction ended on March 11. If this wave count is correct, Achain should be heading next towards the February 23 peak in the red wave five.

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

Funnymentals

Achain is a public blockchain

About the author: Markus Aarnio

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