SUMMARY
Stellar Lumen (XLM) is sporting a very prominent extended 5th wave. This almost always means a deeper than expected retracement. Thus far, the chart below shows a well forming downward wedge labeled with abcde waves. However, price is a bit too far from the apex. While not the most pleasant, a lower low would enable the proximity.
The below chart is very interesting in that the subwaves of the final E wave show that wave 5 of (c) of E is in progress and almost complete. This would allow price to be closer to the Apex prior to a breakout. The MACD also is patterning out a symmetrical triangle and likely one more smaller dip to the bottom blue line will coincide with the incremental lower low in the price.
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