Frax Share (Binance: FXSBUSD) has broken out of the triangle pattern in the four-hour chart.
https://i.postimg.cc/Pfz8j4PT/nimet-n.png
(Chart courtesy of Tradingview.com (log scale))

**Elliott Wave Analysis**

In Elliott Wave terms, FXS began a red wave one advance on February 26. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on February 27 and the red wave two (blue sub-waves a-b-c) correction ended on March 5. If this wave count is correct, FXS should be heading next towards the February 27 peak in the red wave three.
https://i.postimg.cc/qqbJ7gPX/nimet-n2.png
(Chart courtesy of Tradingview.com (log scale))

**Funnymentals**

Frax Protocol has two tokens – FRAX is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value. The Defiant explained the protocol in more detail.
<iframe width="560" height="315" src="https://www.youtube.com/embed/sQ9m9txjF4U" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
(Sources: https://frax.finance/)

**How Will Frax Share Trade?**

Frax Share (Binance: FXSBUSD) four-hour chart by Tradingview.
https://i.postimg.cc/6QBGTbT9/nimet-n3.png
(Chart courtesy of Tradingview.com (log scale))


**Prizes**


I will be giving upvotes to the correct answers with minimum reputation of 25.

**Rules**

This poll will expire in one week. Only one vote per person.

**Which one will happen first?**

Please select one of the three choices and comment below.

FXS will takeout the February 27 peak

FXS will drop below the February 26 low

FXS will stay in a trading range between the February 26 low and the February 27 peak until April 13



Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@maarnio/crypto-contest-march-7-frax-share)