Crypto Contest March 7: Einsteinium

Einsteinium (Bittrex: EMC2USD) 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, Einsteinium began a wave one advance in January 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in December 2017, and the red wave two (blue sub-waves a-b-c) correction ended in February this year. If this wave count is correct, Einsteinium should be heading next towards the December 2017 peak in the red wave three.

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

Funnymentals

Einsteinium runs on the Proof-Of-Work scrypt algorithm. The next block reward halving will happen in 15 days.

(Sources: Einsteinium and Einsteinium

About the author: Markus Aarnio

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