Crypto Contest June 5: Matic Network
Matic Network (Binance: MATICBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Matic began a wave one advance on April 26. The red wave one finished on April 26, and the red wave two correction ended on May 10. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on May 21, and the red wave four (blue sub-waves a-b-c) correction ended on June 3. If this wave count is correct, Matic should be heading next towards the May 21 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Matic Network brings scale to Ethereum using an adapted version of Plasma with PoS based side chains. The Crypto Lark interviewed the co-founder last month.
(Sources: Matic Network and YouTube)
How can I vote? Where is the contest?
You can vote by following this link.
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