Stellar’s XLM token experienced heightened volatility in the past 24 hours, surging from $0.36 to a session high of $0.37 before retracing to $0.36 by close. The 5% intraday range was accompanied by strong trading activity, signaling increased market participation.
Support held firm at $0.35 during the September 4 evening session, with buying momentum reinforced by volumes exceeding 16.9 million tokens. XLM’s breakout above $0.36 resistance coincided with an influx of demand, with volumes spiking to 28.03 million at 07:00 and 82.75 million by midday on September 5, propelling the token to its daily peak.
However, a sharp final-hour reversal erased intraday gains as sellers pushed the price back to $0.36. Despite the late pullback, XLM closed 1% above its opening price, maintaining an overall bullish structure.
Over the past year, Stellar has gained 288%, attracting institutional interest as Protocol 23 upgrades and cross-border payment initiatives strengthen its fundamentals. Yet, competition from emerging PayFi platforms adds external pressure, suggesting volatility will remain a feature of near-term price action.
Technical Highlights
- Support: $0.35 confirmed with strong volume on September 4, 20:00.
- Breakout: $0.36 resistance breached during September 5, 07:00 and 12:00 sessions with heavy volume.
- High: $0.37 reached at midday on September 5.
- Final-Hour Pullback: Significant selling activity drove XLM back to $0.36.
- Overall Outlook: Bullish fundamentals remain intact despite late-session retracement.
