$XLM [1M] multi-year Elliott wave analysis
Updated: Sep 15, 2021
Elliott wave analysis over 7 year:
2015: first impulse wave and correction 0-1-2;
2016-2018: second impulse wave to 3.618 extension of 0-1;
2018-2020: second correction wave to 0.5 retracement of 2-3;*
2020-2022: third impulse wave (currently after 3-4 correction of the subwave)
* Please note that the Corona crash in march 2020 did make price correct deeper, but that the month closed at the 0.5 retracement.
Important level to break is the previous ATH. After that extension levels that seem to make sense lie at:
1.618 at $9.4 with an estimated market capitalization of 220 billion (likely)
2 at $37.8 with an estimated market capitalization of 900 billion (unlikely)
When $BTC hits its expected $210k at a market capitalization of about 4000 billion, it seems that these targets are possible.
Be mindful that also lower or higher extension levels can be the top of the bull market, even the 0 extension at ATH.
When $BTC has another leg up to potentially $210k, $XLM is expected to skyrocket and have a potential 8-30X.
Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.
Screenshot of analysis: