- XLM is currently stabilizing between $0.142 and $0.152, a key Fibonacci zone that bulls must defend to prevent a slide toward $0.122.
- The market structure remains “fragile” due to the absence of a 5-wave bullish advance, leaving the current price action in a corrective sideways state.
- Early signs of life have been spotted during Asian trading sessions, with micro-liquidity grabs suggesting that “smart money” may be accumulating at these lows.
The ever-volatile world of cryptocurrencies, Stellar Lumens (XLM) continues to capture attention with its focus on efficient cross-border payments and financial inclusion. XLM trades around $0.1504 USD, reflecting a modest 0.45% decline over the past 24 hours, according to CoinMarketCap data. This price action aligns with broader market trends, where altcoins like XLM struggle to break free from Bitcoin’s shadow amid regulatory uncertainties and macroeconomic pressures.
Elliott Wave Analysis: Decoding the ABC Correction at $0.1504
Recent technical analysis from prominent crypto researcher More Crypto Online highlights XLM’s ongoing attempt to form a base. On the 4-hour chart from Coinbase, the price has been moving sideways since the February 6 low, lacking the impulsive momentum needed for a confirmed uptrend. The chart shows a corrective structure, potentially labeled as an ABC correction in Elliott Wave terms, with Fibonacci retracement levels marking key zones: 50% at $0.1525, 61.8% at $0.1485, and 78.6% at $0.1429. These levels underscore the current support band between $0.142 and $0.152, where bulls are defending against further downside.
Without a clear 5-wave advance to the upside, the bullish case remains unconfirmed. Upside momentum is weak, and the market’s fragility suggests that a sustained break below $0.142 could accelerate declines toward the next major support at $0.122. Deeper still, $0.103 represents a critical structural floor, potentially signaling a retest of multi-month lows if bearish pressures intensify.
Bullish Requisites: Why a 5-Wave Advance is Essential for Recovery
On the flip side, if the support holds and bulls generate follow-through, XLM could target resistance near $0.1573 (recent high) and beyond, possibly aiming for $0.170 in a more optimistic scenario. This would require improved volume and perhaps positive catalysts, such as Stellar network upgrades or partnerships in the DeFi and remittance sectors. Stellar’s protocol, known for its low-cost transactions and interoperability, positions it well for real-world adoption, especially in emerging markets.
A reply to the analysis notes liquidity grabs and a micro 5-wave upside move, coinciding with Asia session reversals—hinting at early positive signs. However, traders should exercise caution, using stop-losses below key supports.
Overall, XLM’s path forward hinges on defending current levels. Investors monitoring this space might consider dollar-cost averaging, but volatility remains high. As web3 evolves, Stellar’s utility could drive long-term value, but short-term traders need confirmation of strength before committing.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
