Stellar’s XLM token was facing a pronounced bearish pressure over a 23-hour period between September 29 at 1 p.m. 15.00 and 30 September at. 14:00 and dropped 4% from $ 0.38 to $ 0.36. The fall came within a narrow $ 0.01 interval and emphasized token’s struggle to maintain momentum. Early $ 0.38 resistance, combined with a strong trading volume of 38.6 million, signaled strong institutional sales, while a secondary rejection at the same level with 18.6 million in volume reinforced the bearish mood.
Support occurred at $ 0.37 and $ 0.36, with the latter drawing significant defensive purchases late at the session as the quantities were added to 31.4 million. While the high-volume activity of $ 0.36 suggests in accumulation, it remains wider market structure-defined by lower heights and lowest-the bearish bias intact. Violation of the psychological $ 0.37 threshold cemented the case further for extended downward pressure.
XLM closed the 24-hour period with a failed recovery attempt of $ 0.37 in its last trading hour’s trade, where quantities of cards increased before they were rejected and sealed a 4% cumulative decline.
Technical indicators Summary
- Resistance established at $ 0.38 with elevated volume of 38.6 million, indicating institutional sales pressure.
- Secondary resistance zone about $ 0.38 coincided with a significant volume activity of 18.6 million.
- Support levels emerged at $ 0.37 and $ 0.36 with high volume defense during the final trade times.
- Technical collapse below $ 0.37 Psychological level confirmed Bearish mood.
- Critical Support Breakdown occurred at. 13:31 with elevated volume of 665,000.
- Zero volume at 14: 07-14: 08 suggests potential exhaustion of liquidity.
- Pattern of lower heights and lower low level indicates sustained institutional distribution.
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