Stellar’s native Token XLM coincided with the wider market in the last 24 hours, with large quantities that occur at today’s year. The fall happened even as rain, the global short -issuing platform run by stableecoins, announced on Thursday support to the stars along with integration with Solana and Tron.
XLM has dropped 7% over 24 hours and lost from 0.288 to 0.271 with unusually high -selling volume. Cryptocurrency dived out of a trendline that marked April-low recovery and mimics a pattern seen in payments-focused cryptocurrency XRP.
Despite the fall in prices, Stellar’s integration with rain offers a rare bright spot in an otherwise dour market mood. Integration is a meaningful step towards mainstream recovery, allowing users to spend stableecoins held on these high-flow networks for daily purchases.
Technical analysis
- The XLM-USD experienced a significant decrease of 7% over 24 hours and fell from 0.288 to 0.271.
- An unusually high -selling volume of 76.9 m occurred at midnight (00:00), which established strong resistance at 0.280.
- Support arose about 0.270-0.271 with a significant purchase volume (74.7 m) over 01:00 hours.
- Price formed a critical support zone of 0.270-0,271, tested several times with a high volume.
- A temporary recovery began at 1 p.m. 09:43, which formed an increasing channel pattern before selling pressure.
- The last hour showed fleeting trade where prices fell to 0.270 before recovering slightly to 0.273, and then fell back to 0.271 at high volume (2.24 m).
