Stellar faced selling pressure during Tuesday’s session, with XLM falling from $0.2846 to $0.2812 as the institutional distribution appeared at elevated levels. The token carved out a $0.0189 range, representing 6.7% volatility, signaling increased trader uncertainty around current price levels.
The collapse accelerated at 14:00 as trading volume rose to 76.24 million tokens – 115% above the 24-hour average of 35.4 million. Price tested resistance near $0.290 before sellers overwhelmed buyers, pushing XLM through the critical $0.285 support zone that had anchored earlier consolidation attempts.
The latest 60-minute data shows that XLM has fallen from $0.289 to $0.281, marking a sharp decline of 2.8% characterized by lower highs and lower lows. The Bears gained control in key moments at 15:44 and 15:47, with volume above 1.9 million as price action decisively broke below the $0.285 level.
Key technical levels signal breakout risk for XLM
Support/Resistance Analysis:
- Primary resistance established at $0.294 after session highs.
- Critical support zone now at $0.281 after decisive breakdown.
- Secondary support target identified in the $0.278-$0.280 range.
Volume analysis:
- 24-hour volume rose 26.06% above 7-day average during collapse.
- The highest institutional activity of 76.24 million shares fell along with resistance rejection.
- Increased sales pressure remained above 1.9 million. during important breakdowns.
Chart Patterns:
- Clear trading range between $0.281-$0.294 established during the session.
- Lower highs and lower lows confirmed bearish momentum shifts.
- Failed breakout attempt validated distribution thesis at higher levels.
Objectives and risk management:
- Immediate downside target: $0.278-$0.280 support zone.
- Risk level for any rejection attempt: $0.285 previous support now resistance.
- Volume confirmation required above 2M for sustained directional movements.
Disclaimer: Parts 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.
