Stellar’s performance was muted in Tuesday’s session, which ended on November 12 at 14:00 UTC, with XLM falling from $0.2949 to $0.2944 as traders settled into a tight consolidation range.
The token’s modest $0.0148 move – about 5% of total activity – highlighted uncertainty among market participants, suggesting a lack of directional conviction.
A wave of heavy selling hit late on November 11, with volume rising to 36.08 million tokens – 47% above the 24-hour average – and forcing a break below the key $0.2845 support. The selloff pushed XLM to lows near $0.2810 before buyers stepped in to stabilize prices.
With few Stellar-specific catalysts in play, traders are focusing on technical levels. Accumulation near the $0.2949 zone and increased volume suggest that institutional players may be positioning for a move towards the next resistance cluster at $0.2960–$0.2970. The key question is whether the base around $0.2810 can hold to support a sustained push higher.
Key Technical Levels Signal Mixed Outlook for XLM
Support/Resistance:
- Primary floor set at $0.2810 after volume driven split.
- Key resistance at $0.2950 regained on recent 60-minute breakout pattern.
- Next upside target zone is located at $0.2960-$0.2970 cluster.
Volume analysis:
- A massive 36.08 M volume spike (47% above SMA) marked support failure.
- Volume rise below $0.2949 retest signals institutional accumulation phase.
- Normalized activity in the last few hours confirms the end of the consolidation.
Chart Patterns:
- Initial descending trend line from the session’s high created bearish setup.
- A tight range of $0.2810-$0.2950 suggests a base building structure.
- The sequence of higher highs/higher lows occurs after the 60 minute time frame.
Objectives and risk/reward:
- Immediate bullish target: $0.2960-$0.2970 resistance zone.
- Critical Support Defense: $0.2810 base formation low.
- Risk/reward tilts bullish above $0.2917 breakout trigger.
Disclaimer
Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
