Stellar XLM Faces Resistance Amid High-Volume Trading
Stellar’s XLM posted sharp intraday swings in a volatile session, reflecting active trading and institutional participation.
The token moved within a $0.017 band, oscillating between $0.379 and $0.396, a 4.3% fluctuation. A rally from $0.384 at midnight peaked at $0.396 mid-morning, supported by a volume surge of 112 million units at noon. Despite the buying pressure, XLM failed to sustain gains and retreated to $0.387, indicating strong resistance between $0.394 and $0.396.
Short-term trading saw consolidation between $0.386 and $0.389. Two bullish bursts pushed XLM to $0.389 on heavy volume, only to be rejected immediately, confirming the ceiling’s significance. Accumulation at $0.379-$0.381 suggests a solid support base.
The pattern shows that while interest and participation remain high, distribution pressure is limiting further upside, with traders now focusing on whether $0.389 can flip to support.
