Stellar’s XLM token slipped 1.75% over the last 24 hours and fell from $ 0.41 to $ 0.40 as volatility rose over the market. The trade area is expanded to 4.32% during the period with a sharp sale at. 03:00 on August 19th driving to 52.17 million – more than twice the daily average. The move cemented resistance to $ 0.41 while leaving a narrow support band in $ 0.403- $ 0.405 series.
Pressure intensified in session closure, with XLM sliding from $ 0.407 to $ 0.403 between 13:25 and 14:24 UTC. Sales were heavily in window 13: 30-13: 46, when the token fell from $ 0.410 to $ 0.404 on unusually high volumes per day. Minute. This action reinforced new resistance of $ 0.410, while the additional weakened support for $ 0.403- $ 0.405.
The latest downturn is coming as wider crypto markets consolidated, with Bitcoin hovering near $ 115,000 and most altcoins in the red. While the institutional interest in Stellar continues to grow – underlined by the foundation’s investment in digital securities exchanges Archax – market wind has overshadowed this development.
XLM’s non -compliance of $ 0.41 leaves it vulnerable to deeper loss if the level $ 0.403 gives space. A breakdown under this zone would open the door for further falls, especially when the quantities tapered late in the session and hinted at fading buyer support. Currently, dealers will look at whether the token can defend its critical support or risk a step lower in line with wider Altcoin weakness.
Technical indicators
- Volume waves to 52.17 million during a major decline exceeding 24-hour average of 25.43 million by 105%.
- Resistance solidifies to $ 0.41 after several rejection attempts.
- Support zone is materialized between $ 0.403- $ 0.405 in the middle of repeated purchase waves.
- Secondary resistance confirmed at $ 0.418- $ 0.420 after multiple price errors.
- Recent volume drops below average, indicating potential bearish continuation.
- $ 0.403 Support level requires immediate monitoring for degradation or reversing patterns.
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