Stellar Lumens $XLMUSD ABC Complete? Potential Wave 3 Begins
Stellar Lumens $XLMUSD fell to 0.2061 yesterday, just below my Wave C plot, but above my target box, go figure.
Unlike some of the other major crypto, I see Stellar as already in its correction wave from its push to 0.4168, and in fact plotted the ABC as you see here. From this point there are a few scenarios. I believe there has been enough time for the $XLM market to 'take a breath' and we could start Wave 1 of Wave 3 here, and in fact could already be looking at Wave 3(1)(2) with 3(1)(1) having just hit 0.3106 earlier today. We are sitting at the 0.382 fib retrace of that 3(1)(1) right now. It will be interesting to see what happens.
The second scenario is that we end up with a complex Wave 2 correction wave that turns into a WYZ or even a tripple. I personally hate those as they become exceedingly difficult to count. A break below this last low at 0.2061 could actually end up in the box marketd, but there is the real possibility at that point we could be looking at the Montly Pivot at 0.1494.
Anyway, we are still in a bullish formation, just in a correction wave. If this does turn out to be a new impulse wave we are targeting 0.50 initially.
Disclaimer: Dont follow the advice of random people on the internet. This is a hobby of mine. I do actively trade crypto, but I am by no means an expert.
Unlike some of the other major crypto, I see Stellar as already in its correction wave from its push to 0.4168, and in fact plotted the ABC as you see here. From this point there are a few scenarios. I believe there has been enough time for the $XLM market to 'take a breath' and we could start Wave 1 of Wave 3 here, and in fact could already be looking at Wave 3(1)(2) with 3(1)(1) having just hit 0.3106 earlier today. We are sitting at the 0.382 fib retrace of that 3(1)(1) right now. It will be interesting to see what happens.
The second scenario is that we end up with a complex Wave 2 correction wave that turns into a WYZ or even a tripple. I personally hate those as they become exceedingly difficult to count. A break below this last low at 0.2061 could actually end up in the box marketd, but there is the real possibility at that point we could be looking at the Montly Pivot at 0.1494.
Anyway, we are still in a bullish formation, just in a correction wave. If this does turn out to be a new impulse wave we are targeting 0.50 initially.
Disclaimer: Dont follow the advice of random people on the internet. This is a hobby of mine. I do actively trade crypto, but I am by no means an expert.
Possible impulse pattern to 0.44.