Stellar Lumen (XLM) Expanded its recent rally over the past 24 hours and climb 3%as buyers absorbed increased sales pressure and pushed the token into fresh resistance levels. Between September 1 at 1 p.m. 15:00 UTC and September 2 at. 14:00 UTC, XLM advanced from $ 0.36 to $ 0.36, with volatility of 5%that emphasized active participation.
The asset found support for $ 0.35 after a short wave of sales before consolidating in the range $ 0.36. The resistance arose around $ 0.37, with the market watching two rejection points, although trading quantities over the daily average of 31.2 million tokens signaled sustained institutional interest.
The bullish structure led into the last hour of the session when XLM got 2% from $ 0.36 to $ 0.37. The move was strengthened by a volume tip of 2.7 million units at 1 p.m. 14:00 UTC, which allowed the token briefly to pierce the ceiling of $ 0.37 before stabilizing over $ 0.36. The outbreak reinforced the 24-hour trend and proposed buyers build a foundation for additional upside if the volume Momentum continues.
At the same time, the leading South Korean exchange Bithumb and Upbit said they will suspend XLM deposits and withdrawals from September 3 at. 09:00 UTC. The move is part of the preparations for Stellars Protocol 23 upgrade, aiming to modernize network infrastructure and expand interoperability.
Protocol 23 has been framed as a step towards expanding Stellar’s benefit to assets in the real world, of which approx. $ 460 million is already circulating on the network. The synchronization of price gains with network improvements highlights a growing tale of business recording.
Coindesk Data’s technical analysis model Note that consolidation above $ 0.36, combined with systematic accumulation around key support levels, points to ongoing institutional positioning that could pave the way for a sustained step beyond $ 0.37.
Market Analysis reveals strengthening business interest
- Price established basic support for $ 0.35 under increased sales pressure on September 1, 21:00.
- Robust accumulation activity developed between $ 0.36- $ 0.36 after crucial market recovery.
- Resistance parameters identified at $ 0.37- $ 0.37, where the price encountered double rejection events.
- Trade volume rises over 24-hour average of 31.20 million validated institutional market participation.
- Enable consolidation maintenance in increasing price channel formation.
- Breakout potential over $ 0.37 resistance depending on sustained volume validation.
- Trade Momentum accelerated during 13: 35-13: 46 session with crucial upward movement.
- Improved support structure established about $ 0.36- $ 0.36 price levels.
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