SUMMARY
This chart of Stellar (XLM/USD) was posted on March 20th with a $0.156 as the projected bottom. This was hit pretty close and since then, price surged 195.27% to $0.467. Not too shabby!. So, what's next?
The rise in price since the 0.15 bottom has occurred in an impulse sequence (white waves). This motive is complete and since Elliott Waves states that after five waves, there is a requisite retracement. This correction is shown for now as an abcde (red) while taking a wedge pattern. However, this could morph into a standard ABC as well.
It's always the Big Picture that matters the most. The below shows that the initial five waves are actually subwaves of a higher degree wave 1 (blue) and the current correction is likely putting in the blue wave 2. What wave comes after 2? Wave 3!
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