Stellar’s price weakened on November 17, falling 1.2% over 24 hours as volatility and volume increased. XLM fell from $0.2580 to $0.2548 while creating a choppy consolidation area of 3.3%.
The tone of the session changed noticeably after a sharp rejection from resistance near $0.2607, confirming a breakdown from the previous uptrend and signaling a worsening momentum.
The most decisive move came around 13:00 UTC as a 30.4 million XLM volume increase – well above the daily average – sent XLM below its rising trendline from $0.2521.
Subsequent 60-minute action showed accelerating bearish pressure, with heavy selling pushing the token down from $0.2586 to $0.2535. The breach of key support at $0.2527 and new session levels around $0.2531 have opened the door to a possible retest of the psychological $0.2500 zone.
Key technical levels signal bearish momentum for XLM
Support/Resistance: Primary support tests at $0.2527 before breakdown, with $0.2500 psychological level as next target; resistance is established at $0.2607 with session high rejection at $0.2617.
Volume analysis: Massive increase to 30.4 million. during collapse represents a 78% rise above the 24-hour average, confirming institutional selling pressure at critical levels.
Chart Patterns: Rising trend line from $0.2521 breaks decisively, a volatile consolidation pattern with 3.3% range suggests continued uncertainty in near term direction.
Objectives and risk/reward: The immediate downside target of $0.2500 represents a 1.9% decline from the breakdown level, while a rally above $0.2580 needs to happen to negate bearish structure.
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.
