SUMMARY
Consolidation is similar to "digestion". For Cryptos, when a price undergoes a near vertical rise and corrects, the violent upmove in price has to be "digested". Price corrects in a decline but also sellers and buyers need to churn the price between them until the correction completes or sellers sentiment becomes absorbed.
Request Network (REQ) has been digesting its prior five wave up via a correction and a sideways consolidation. The complex wxyxz (red) could be complete if the MACD has broken out and maintains higher altitude. Is a lower low possible? Yes. However, possible is not the same as probable. Given the contour of the correction and the current sideways action; price should start putting in higher highs.
The white rectangle roughly outlines the basin phase and since the MACD rise should support higher prices; the blue impulse waves outline a potential price pathway. The sideways action can extend into May and if so, it'll likely mean another round of minor, smaller degree of trend wxyxz complex sequence.
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