XLM / STR LONG Projection Update: Potential C & H forming
Just an update to my previous long projection this morning for Stellar Lumens to hit the 1-1.1k area: there appears to be a strong cup formation developing on the 30 minute chart.
Waiting to see a clear evidence of a handle, but all signs are still pointing to being very bullish:
- holding above the 200 day ema
- hovering above the 30 min ichi
- exceptional volume...perhaps the only alt remaining strong amidst all the btc pricing chaos
This is what I project to be the 3rd leg up on the corrective elliott wave which I believe will take us to the previous ATH resistance on Polo at around 84x. Then I expect a small
pullback for wave 4, which will subsequently lead us to the promise land in the 1k + area. As previously stated, an anticipated sharp decline in bitcoin pricing following the fork
will only help the fuel the rocket.
Happy trading!
Waiting to see a clear evidence of a handle, but all signs are still pointing to being very bullish:
- holding above the 200 day ema
- hovering above the 30 min ichi
- exceptional volume...perhaps the only alt remaining strong amidst all the btc pricing chaos
This is what I project to be the 3rd leg up on the corrective elliott wave which I believe will take us to the previous ATH resistance on Polo at around 84x. Then I expect a small
pullback for wave 4, which will subsequently lead us to the promise land in the 1k + area. As previously stated, an anticipated sharp decline in bitcoin pricing following the fork
will only help the fuel the rocket.
Happy trading!
We broke the c&h as expected, and 646 resistance became strong support.
Has been rising steadily since with minor points of consolidation from bull flags and penants.
I do not believe the train is stopping anytime soon, as volume remains very strong...especially with the BTC pullback after the fork.
I noticed a fairly consistent pattern for the large pumps on this elliott wave on the 5 minute chart. They've remained space between 75-8x pips. So I'm fully expecting the next huge pump that will bring us closer to the 84x resistance level within the next few hours as the market consolidates and loads up.
A break above 708 resistance confirms the next leg up.
Good luck all.