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XLM Targets $0.799 After Completing Third Elliott Wave Structure.

Stellar (XLM) has climbed above $0.45, supported by a confirmed Elliott Wave structure that shows ongoing bullish momentum in wave (iii). The chart reveals a clear five-wave pattern on the hourly timeframe with a corrective wave (iv) expected near the $0.3846 zone. Volume profile confirms strong demand at current levels, building support for a potential move toward $0.7993 in wave (v).

The third wave has already unfolded in textbook fashion with subwaves 1 through 5 completed above the neckline breakout. Price climbed steadily after bouncing off the $0.2098 region, forming the initial wave (i) followed by a flat correction in wave (ii). Once the market reclaimed the $0.27 level, XLM entered a steep upward phase, crossing $0.3846 with momentum.

Now trading around $0.4510, XLM appears to be consolidating after wave iii of wave (iii), with an active sub-correction. The next move is projected to complete wave (v), pushing toward $0.7993, which represents the extension zone of the entire pattern. Price may retest lower supports, but the overall trend remains intact according to the current wave count.

Volume Profile and Support Levels Strengthen Case for Continuation

The volume profile on the right side shows significant accumulation around $0.3846, indicating institutional buying interest near that level. A long base was formed at this area before the upward breakout. This region now acts as both a psychological and technical support zone.

Lower support levels can be found at $0.2700 and $0.2098, which marked the base of the previous impulsive wave. These levels formed the foundation for the reversal, confirmed by strong green candles and a trendline breakout on July 6. The 200 EMA also offered dynamic support, especially during wave 2 and wave 4 pullbacks.#Write2Earn #TradingStrategyMistakes #ArbitrageTradingStrategy #AltcoinSeasonLoading $XLM