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XLM is near to multi-year lows, but there are signs of support.
This is my count, a count that applies to a lot of altcoins that despite showing some bullish action earlier in the year, are now re-testing the lows of 2019. Another possible count is that the big rise and fall-back (not yet to >100%) is wave 1 and 2 of a bigger new move up....
XLMUSD is currently in Wave B of a correction wave, which will bring prices to around $0.12-$0.13 USD. Wave C will bring the price down to around $0.03 USD area as a projection, hard to predict right now as Wave B has not completed yet. $0.03 will likely happen in tandem when BTC hit $8,500 on the flag play of Wave E.
XLM has retraced nicely down to the 0.7 ranges on the FIB.
However with decreasing volume it will be tough to see if it will expect a move up or not.
MACD is starting to look more bullish with an uptick on the histogram but still not enough confirmations on the RSI yet.
We are waiting to see if more confirmations are going to come through and a trend holds....
Guys, XLM made the new low now like I predicted(see the link below).
Now we expect too reverse for an upside move, but first we need small consolidation in the lower time frame for reversal, like I draw it!
I will keep you...