XLM published an unstable trade session over the last 24 hours that waves from $ 0.36 to $ 0.39 before giving back winnings in a sharp intraday turning. The move represented a 7%progress as the quantities were connected to the 56.77 million-nest twice as much as 24-hour average-imbalance suggests increased institutional activity.
The most notable breakout happened at. 08:00 on October 1st, when the price accelerated from $ 0.37 to $ 0.38 on extraordinary purchase pressure and established the company’s support of the $ 0.37 level.
Momentum led through subsequent hours of trading volumes over 55 million over 09:00 and 11:00 sessions. This consistent demand confirmed a shift in the market structure, which resulted in resistance near $ 0.38 to support, while producing a number of higher low lower, reinforcing the bullish trend. Analysts often consider this pattern as proof of accumulation of larger players placed in front of key resistance levels.
However, that momentum turned out fleeting. During the last hour of the session, XLM withdrew from $ 0.39 to $ 0.37, in which a profit setting was put in. The sharp sale at. 13:41 UTC, which drove the prices down by two cents in less than 30 minutes, deleted much of the previous winnings and created a lower low that disturbed the prevailing up. Institutional dealers seemed to lock profits after the rapid drive and emphasized the fragility of the recent Bullish Momentum.
The Whipsaw session highlights the broader uncertainty that weighs in cryptocurrency markets. While XLM cards challenged $ 0.40 psychological resistance, its rapid rejection continuously emphasizes continuous volatility across digital assets in the midst of macroeconomic headwinds. Dealers will now see if $ 0.37 may contain as a durable support zone – or whether the degradation signalizes further weakness ahead.
Technical indicators showing mixed signals
- Price outbreaks happened on October 1, 08:00 with unique volume of 56.77 million, exceeding the 24-hour average of 29.36 million.
- Robust volume support established at $ 0.37 level in the initial surge phase.
- Resistance-facing-supporting dynamics validated about $ 0.38 level with sustained institutional accumulation.
- Higher low pattern is maintained throughout the upward course before the last hour turn.
- Volume increased dramatically in decline phases 13:18, 13:44 and 13:49 with readings over 1.3 million.
- Zero volume registered at. 14:09, which suggests completely exhaustion of the market and potential consolidation in front.
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