We're in for the long haul with lumens. MACD and RSI still indicates a bullish market along with the golden crossover, which occurred a few days ago. The last time we had the golden crossover (MAY2017), lumen went ape shit and skyrocketed to an ATH of 4900sats. Hopefully we are able to recover soon from the bearing market that is btc correcting. This long overdue btc correction is necessary for the longevity of the cryptoworld.
We are entering wave 5 of elliot's wave, which should take us up. Wave 4 had a massive correction from 1.8k to the high 1.2k sats. Wave 5 should be quite the distance because: 1) lumen is very bullish despite btcc rashing and 2) buy the rumor sell the news (everyone is anticipating the announcement of the major market mover soon).
Target Price 1: 2528, this is based on fib as seen on my chart
Target Price 2: 3400, this is based on previous resistance during may
Target Price 3: 5000, if target price 2 is breached then our next target would be previous ATH
Expect retracement after this last wave, so make sure to lock in your profits on the way up!
We are entering wave 5 of elliot's wave, which should take us up. Wave 4 had a massive correction from 1.8k to the high 1.2k sats. Wave 5 should be quite the distance because: 1) lumen is very bullish despite btcc rashing and 2) buy the rumor sell the news (everyone is anticipating the announcement of the major market mover soon).
Target Price 1: 2528, this is based on fib as seen on my chart
Target Price 2: 3400, this is based on previous resistance during may
Target Price 3: 5000, if target price 2 is breached then our next target would be previous ATH
Expect retracement after this last wave, so make sure to lock in your profits on the way up!