Wild week for XLM - seeing a boom in volume, nearly doubling in price over the past 7 days, and grinding through a mass sell-off as BTC shoots through the roof - settling at a new floor around 800-900 sat. Even with this recent drop, the mean is still rising steadily.
Taking a look at the chart, we can see what looks like Elliott Correction after the spike in price, and the completion of Wave 2 today. The pink dotted line being the long term trend, I see Wave 3 taking us up to 1150, Wave 4 bringing us back down around the 1000 sat mark, and finally reaching back up to 1400 with the completion of Wave 5.
XLM is creeping along, creating new floors out of previous ceilings. This will be a fun one to watch in 2018.
Taking a look at the chart, we can see what looks like Elliott Correction after the spike in price, and the completion of Wave 2 today. The pink dotted line being the long term trend, I see Wave 3 taking us up to 1150, Wave 4 bringing us back down around the 1000 sat mark, and finally reaching back up to 1400 with the completion of Wave 5.
XLM is creeping along, creating new floors out of previous ceilings. This will be a fun one to watch in 2018.
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