Crypto Contest May 25: U Network

U Network (Huobi: UUUBTC) 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, U Network began a wave one advance on February 25. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 8, and the red wave two (blue sub-waves a-b-c) correction ended on May 14. If this wave count is correct, U Network should be heading next towards the April 8 peak in the red wave three.

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

Funnymentals

U Network is a decentralized content asset storage, notarization, distribution, publishing and valuation network. Crypto Love reviewed the

About the author: Markus Aarnio

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