Stellar’s XLM Token came under heavy institutional sales pressure between August 17 at. 15:00 and 18 August at. 14:00 and slid from $ 0.43 to $ 0.41 in a decrease of 6%.
Trade volumes in the 24-hour period topped $ 30 million, which represented approx. 7% of daily revenue.
The most notable liquidation event took place between 7 p.m. 01:00 and 3:00 on August 18, when institutional sellers were read more than 60 million tokens. This sale forced XLM down from $ 0.42 to $ 0.41, creating strong resistance of $ 0.42 level and defines new support near $ 0.41.
Despite attempts at recovery, the asset consistently failed to break the resistance zone, signal sustained institutional bearishness and leave XLM vulnerable to further disadvantages.
The last trade time on August 18 added fresh pressure when XLM recorded a 1% decrease between 13:21 and 2:20 pm. Institutional sales accelerated between 7 p.m. 13:31 and 13:42, with the company’s liquidation pushing prices from $ 0.41 to $ 0.41 on quantities over 2.7 million units.
This flurry of activity confirmed resistance to $ 0.41 and set a short -lived support floor at the same level. Several recovery attempts throughout the hour were met with renewed sales pressure, culminating with a stagnant close to about $ 0.41 with minimal volume in the last 20 minutes.
The lack of buying interest highlights the possibility of further weakness if sellers regain speed.
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