XLM/Stellar bullish idea (H4/Daily)
Updated
As major BTC correction is still ongoing, most cryptos are following this course and XLM is no exception.
Stellar* formed well-established point 4 of the current Wolfe-wave which was backed by significant volume spike.
If the price continues its present descend, it is likely that it will re-test the indicated support level and form point 5 before resumption of the uptrend.
Stellar* formed well-established point 4 of the current Wolfe-wave which was backed by significant volume spike.
If the price continues its present descend, it is likely that it will re-test the indicated support level and form point 5 before resumption of the uptrend.
Note
Following bottom support test of the pattern, the price formed point 5 successfully.As BTC is being revived, XLM is on the way to the stellar stars once again)
Note
Despite current BTC downtrend, XLM managed to reach line 2-4.However, caution is highly advised as these gains may easily be dragged down by current global sell-off mood. Volume dynamics should be monitored carefully as it can provide a tip for further moves.
Note
Stellar successfully broke 2-4 and this strong up move is being confirmed by bullish volume spikes:
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