The highly anticipated LISK rebranding event has passed away and the question remains: to hodl, to sell, or do nothing?
According to the Elliott Wave Principle, the current situation is still in favor of another wave higher, but first, the correction must complete. The first level for the corrective leg dow might have been reached at the level of $23,55 which is a 1:1 correction of waves (a) and (c). Nevertheless, the drop might extend towards the level of $23.03 and then $21.07. In the extreme situation, the last target projection is a zone between the levels of $18.31 - $17.08. This is where the first upwards wave might start to unfold.
Please notice the corrective cycle might get more complex and time-consuming than a simple (a)(b)(c) correction.
According to the Elliott Wave Principle, the current situation is still in favor of another wave higher, but first, the correction must complete. The first level for the corrective leg dow might have been reached at the level of $23,55 which is a 1:1 correction of waves (a) and (c). Nevertheless, the drop might extend towards the level of $23.03 and then $21.07. In the extreme situation, the last target projection is a zone between the levels of $18.31 - $17.08. This is where the first upwards wave might start to unfold.
Please notice the corrective cycle might get more complex and time-consuming than a simple (a)(b)(c) correction.
Commentaire:
Watch the support at 18.31. This is the first target for bears.
