BINANCE:XLMUSD   Stellar / US Dollar (calculated by TradingView)
Hello everyone,
as mentioned I my last analysis, XLM looks not bad at the moment. Maybe XLM is building the third 1-2 elliott-wave setup before starting to new highs.

I wrote:

“XLM is not looking bad to me. It looks stronger and more resistant than other cryptos, because it seems that the huge correction from all-time-high is already over, which ended in march at 0.1539$. I am not 100% sure, but it’s more likely than a continuation of the correction.

So let’s take a look

It seems that the correction started at all-time-high (wave 1 superordinate) and ended as a triangle at 0.1539$ (wave 2 superordinate). Since then we probably have seen two 1-2 elliott-wave-setups”

And now it seems, that we have the third 1-2 setup in front of us…

Scenario 1 (blue line – 25% chance)

The third 1-2 setup is already completed and XLM now is starting to new highs.

Scenario 2 (green line – 60% chance)

Wave 2 (green) is not completed yet. I think it will end in between the yellow circle, as you can see in the chart above. A perfect turning might be between 0.23 and 0.20.

Scenario 3 (red line – 10% chance)

If 0.20 doesn’t hold, the chances for deeper courses increase dramatically. Then the question is: will the last lowest low at 0.15 hold, or do we see XLM going to hell (5% chance: under 0.15)?

Please leave a comment or a message, if you have any questions!

If you have any other ideas, please leave a comment here!

Take care