XLM slid into a pronounced bearish trajectory over the last 24 hours, traded between $ 0.39 and $ 0.40 and broken below key support levels. Token’s volatility was intensified in the final trade times on August 20, when prices fell from $ 0.40 to $ 0.39, marking a decisive violation of support that had previously provided MODEMENTUM. The move continues to signalize pressure on the asset despite its attempt to consolidate around the $ 0.40 threshold.
Trading data revealed increased distribution activity, with revenue affecting 45.04 million under 13: 00-Session-good over the 24-hour average. The tip of volume emphasizes remarkable institutional participation in sales and amplifies downward momentum. XLM’s non -compliance with resistance levels and its violation of multiple intraday supports point to Bearish conditions that are likely to persist in the short term.
The weakness of XLM comes despite constructive ecosystem news. The Stellar Development Foundation recently committed capital for the British -based tokenization company Archax, which emphasized its long -term growth strategy. Still weighing wider market conditions heavily, with Bitcoin, which had nearly $ 113,500, while Altcoins were facing corrective pressure, leaving XLM exposed to continued downward risk.
Technical indicators still signalize fragility
- Price violated decisively below the established $ 0.39 support level, which had previously given the accumulation interest.
- Volume increased dramatically in steepest fall phases, with 4.92 million registered at 14: 17-the highest reading with a single minute.
- Failed to establish meaningful support over the psychological level of $ 0.39 throughout the session.
- Persistently lower tops pattern indicates that accelerating momentum downwards remains intact.
- Zero volume registered at. 14:20 suggests potential capitulation among market participants.
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