Crypto Contest May 11: SONM

SONM (SNMUSD) 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, SONM began a wave one advance on November 2, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 7 this year, and the red wave two (blue sub-waves a-b-c) correction ended on April 1. If this wave count is correct, SONM should be heading next towards the January 7 peak in the red wave three.

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

Funnymentals

SONM is a decentralized fog-computing platform. BitCago Crypto published a coin overview on April 23.

(Sources: https://sonm.com/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "SONM will takeout the January 7 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "SONM will drop below the April 1 low".

If you think SONM is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "SONM will stay in a trading range between the April 1 low and the January 7 peak until June 16".

You can upvote the comment until 3 PM EST May 14 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus

I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.