Stellar continued to slide lower over the last 24 hours, with price action emphasized a clear bearish bias. Between September 3 at 1 p.m. 15.00 and September 4 at. 14:00 the XLM shed 2.72%and fell from $ 0.368 to $ 0.358.
The move came within a tight $ 0.012 range, reflecting 3.26% intraday valley. Sellers consistently rejected attempts to push over the $ 0.362 level, especially during September 4, 13:00, while $ 0.357- $ 0.358 area short provided support. Still, mounting downward pressure suggests that the zone may not hold, giving way to extended weakness.
Market forces appear to aggravate Stellar’s recent decline. Despite several rejection attempts, resistance remain near $ 0.362 firmly intact. This dynamic coincided with the roll -out of Stellar’s Protocol 23 network upgrade on September 3rd, but the technical milestone could not give the kind of bullish catalyst needed to counteract the applicable macropres.
Institutional mood also reflects the cautious tone. On September 2, a wave of liquidations arose worth approx. $ 192,000 when XLM slipped from $ 0.40- $ 0.45 range, highlighting the dealers’ vulnerability to sudden downward movements. This liquidation cascade has since set the stage for the ongoing retreat, which is in line with larger patterns of risk-off positioning of major market players in the midst of geopolitical and monetary uncertainty.
Looking ahead, Stellar faces a decisive test of support. After repeated rejection of $ 0.45 resistance level, the token is now running against the demand zone $ 0.32- $ 0.30. Whether this level can attract adequate buying interest is likely to determine XLM’s almost term track. Currently, technical and macro signals both point to sustained bearish momentum unless broader mood is stabilized.
Technical indicators signalize further weakness
- Price dropped from $ 0.368 to $ 0.358, representing a fall of 2.72% over 24 hours.
- The total trading area reached $ 0.012, corresponding to 3.26% volatility.
- Clear resistance established at $ 0.362 level with multiple rejection attempts.
- High volume of 21.47 million during September 4, 13:00 session exceeded 24-hour average of 16.23 million.
- Support zone identified about $ 0.357- $ 0.358 occurs fragile.
- Accelerating decrease in final trade times continues to suggest sales pressure.
- Volume fell from the top 28.5 million to 16.7 million shares, indicating weakened momentum.
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