Steller lumens 700% extension in 2024
2024-08-23

On the above 10 day chart price action has corrected 90% since May 2021. Will the correction continue? Unlikely. Why?

1) Price action and RSI resistance breakouts.

2) Regular bullish divergence.

3) Bull flag confirms support on past resistance. Notice the bullish engulfing candle?

4) The forecast is made from the first impulsive move. A 2nd impulsive move from the confirmation of support will see price action print to the 70 cent area.

Is it possible price action continues to correct? Sure.
Is it probable? No.

Ww

Type: Trade
Risk: You decide
Timeframe for long: Before the end of month
Return: 70 cents / 700%