Crypto Contest November 21: Stellar Lumens

Lumen (XLMUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, Lumen began a wave one advance on September 15. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on October 16, and the red wave two (blue sub-waves a-b-c) correction ended on November 2. If this wave count is correct, Lumen should be heading next towards the October 16 peak in the red wave three.

(Chart courtesy of Tradingview.com)

In the weekly chart, I believe Lumen is currently in the red wave five. The red wave five began on September 15.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

The Stellar team describes the coin as:

Stellar is Open-Source, Distributed Payments Infrastructure. It connects people, payment systems, and banks. Integrate with Stellar to move money quickly, reliably, and for a fraction of a penny.

(Source: https://www.stellar.org/)

If you think this analysis is correct, upvote this post and upvote the comment "Stellar will takeout the October 16 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Stellar will drop below the September 15 low".

If you think Stellar is in a range, upvote this post and upvote the comment "Stellar will stay in a trading range between the September 15 low and the October 16 peak until December 22".

You can upvote the comment until 3 PM EST November 22 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).