Stellar’s native token XLM weathered intense volatility over the last 24 hours and threw himself to the key support level before staging a robust rebound. The movements, characterized by unusually heavy institutional trading activity, emphasized the market’s focus on $ 0.36- $ 0.37 support zone when dealers weigh the prospects of a breakout towards higher goals.
During the Asian Trade Session, XLM fell to $ 0.36 on quantities waving over 40 million-more than twice the 24-hour average resolution of this price area as a critical support with high volume. Sales were quickly recorded with token climbing back against $ 0.37, a sign that institutional players can accumulate positions at reduced levels.
The last hour of trade on September 24 was especially turbulent. XLM slid vigorously to $ 0.368 at. 13:37, before returning to the session’s heights of $ 0.369 with 14:10. Volume spikes at. 13:37 (1.27 million), 13:58 (1.19 million) and 13:59 (1.58 million) highlighted significant institutional currents that drive the intraday swings.
Technical indicators signalize consolidation pattern
- Price range of $ 0.01 representing 4 percent volatility indicates active trade interest.
- Elevated volume support test of $ 0.36 level by 40.69 million in trade volume.
- Recovering against $ 0.37 in Asian trade times suggests institutional purchases.
- Critical support zone established about $ 0.36 psychological level.
- Volume tips in the last hour indicate significant institutional activity.
- Consolidation pattern formation over $ 0.37 support zone.
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