Trade with care.
How did you come to formulate this opinion?
These are my thoughts.
Not kidding or being and ass. Honestly. These are my thoughts.
After XLM had a huge climb, it went into a correction phase. This always happen in any market. During the correction phase you look for signs/signals if a run will continue. If there are any, you look for the probable pathways it will take.
Currently, at the ATH, we saw a quick sell off. After that we got a base/support developed between 3-5k sat. Within that correction phase a descending triangle formed in an ABCDE correction. That gave us the breakout we saw today. If we run up to retest ATH again (6.4k sat) in the manner I am expecting. Then a cup and handle is what I'm expecting. At the retest of ATH the cup is done, we look for the handle. The handle usually falls back into 38.2-61.8 fib level. Which is usually a new support level (4.4-5k sat in this example) The extended target is the height of the cup, from base to tip. Hope that helps.