Stellar’s native token, XLM, rose from $0.3131 to $0.3210 in the last 24 hours, gaining 2.5% and confirming an uptrend pattern. The rally was supported by a series of higher lows at $0.3106, $0.3118 and $0.3149, reflecting consistent buying momentum across sessions.
By midday UTC on October 24, trading activity picked up sharply, with volume rising to 74.39 million – about 350% above the 24-hour average – pushing XLM to a session high of $0.3229. The move confirmed a bullish breakout above the $0.3170 level before encountering resistance at $0.3230. Support held near $0.3150, which defines the day’s trading range at $0.0133, or about 4.2% in volatility.
Short-term charts show that the token took off from its peak, falling 0.6% to $0.321 as volume exceeded 2.9 million in key distribution phases. The pullback formed a descending triangle pattern, suggesting short-term profit-taking rather than a shift in overall momentum.
Without major fundamental catalysts driving the move, technical signals remain the focus. The increase in volume underscores institutional participation, while the pullback to the 38.2% Fibonacci retracement near $0.321 points to a potential base formation. Sustaining this level could position XLM for a continuation higher if buying volume resumes.
Technical Key Levels Signal Consolidation for XLM
Support/resistance analysis
- Primary resistance confirmed at $0.3230 level with strong selling pressure.
- Key support established near $0.3150 from previous consolidation phases.
- Immediate support formed at $0.321 from recent patterns of base formation.
Volume analysis
- Unique volume peak of 74.39 million provided confirmation of breakout above $0.3170.
- Distribution volume of 2.9M+ during pullback indicated professional profit taking.
- Volume patterns indicated institutional participation below key price levels.
Chart Patterns
- Rising trend structure with higher lows at $0.3106, $0.3118 and $0.3149.
- Descending triangle formation observed during pullback with a sequence of lower highs.
- 38.2% Fibonacci retracement adjustment supported the base formation thesis.
Goals & Risk Management
- Upside targets $0.3230 resistance on volume expansion above $0.3170.
- Downside risk contained above $0.3150 support to maintain the trend structure.
- Risk/reward favors continuation given strong volume confirmation and retracement levels.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
