If you measure the size from the swing high to swing low of the current wedge XLM is in to the supposed breakout you get a price point of 24$ plus some change. The 1.618 fib ratio of the first swing major high also gets you near to this 24$ target. When I have multiple indicators giving me the same price target it gives me more of a stronger confirmation that, that price target will be hit!!
If you look at XLM's chart pattern from March 2017 to Jan 2018 when XLM made its first major swing high, the move was up fast and parabolic. Id imagine once XLM breaks this long term wedge, it will move up fast and parabolic again. I measured out the first move (2017-2018) and counted 5 waves up. The next move up will be the third wave of the grand cycle. I took the low of the first move and measured to the swing high ending in Jan 2018 and plotted that line on the low of the wedge (current wedge). I then took the Fib retracement and placed it on that line and the 1.618 number gets me 24$ and some change. Its a lot to digest and I hope this was useful.
ashtrish22
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I would love it if that happened, I have it a little over $5
dacush14
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That would give XLM a valuation of ~675B. That’s a big stretch but I like the optimism.
SforShiraz
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which indicators are giving you this target (apart from this gigantic ascending triangle)?