The Little Lumen that Could.
Updated
XLM had a good November and is about to have a VERY good December. In fact they already have, by being listed on Binance and by announcing a big partnership with IBM. I suspect we the price drive up considerably over the next week or so.
Here is my initial view of this run:
Scenario 1:
Scenario 2:
Will try to update this often as TA is rarely spot-on.
Here is my initial view of this run:
Scenario 1:
- Wave 3 will hit around 1005 sats
- Wave 4 will retrace to between 920 and 960 sats
- Wave 5 will top out at 1150 sats
- a 45% gain from where we are now.
Scenario 2:
- Wave 3 will hit around 1150 sats
- Wave 4 will retrace to between 960 and 1005 sats
- Wave 5 will top out at 1370 sats
- a 75% gain from where we are now.
Will try to update this often as TA is rarely spot-on.
Note
Stellar's price action has been getting squeezed tighter and tighter in this consolidation triangle started last week. It is now pinballing between the .5 and .382 lines of the triangle's fib retracement. Price has pretty much nowhere else to hide and we should be seeing a breakout within the next 12-18 hours.
While we can't say for sure which direction price will break, the order books shows strong favor for the bulls, with a large amount of organic (not artificial buy walls) bids. This, of course, can change at any point and I rarely depend on depth charts for anything over just a couple hours.
As long as price keeps above the .382 line until the end of the triangle, my bet is that we will see an uptrend soon.
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