Image Source: Freepik
 

Stellar with ticker XLMUSD made a massive rally recently, which we see it as wave 3 of an ongoing five-wave bullish impulse that can send the price even higher. Currently we can see it slowing down, but looks like a deep and complex w-x-y correction within higher degree wave 4, so be aware of a bullish resumption for wave 5 towards 2021 highs @ 0.80 or maybe even all-time highs @ 1.05, especially if jumps back above channel resistance line and 0.50 area.

XLMUSD Daily Chart

Basic Impulsive Bullish Pattern shows that Stellar can be finishing wave 4 correction before a bullish continuation higher for wave 5.

Basic Bullish Impulsive Pattern

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