Stellar (XLM) slipped 1.6% on Tuesday, dropping from $0.2491 to $0.2451 as sellers took control and the token extended a series of lower highs from its recent $0.2602 peak.
The asset traded within a $0.0153 range, posting 6.2% intraday volatility. A sharp 05:00 volume spike of 36.3 million XLM — 78% above the 24-hour average — confirmed a breakdown below the key $0.2520 support level.
With no clear fundamental catalysts, traders focused on the technical picture, where the loss of $0.2520 signaled likely institutional distribution rather than retail-driven volatility.
Bearish momentum intensified on the one hour chart as XLM fell another 0.8%, sliding from $0.2478 to $0.2453. Two forceful selling waves drove the token below $0.2470 and $0.2460, with back-to-back volume surges of 1.71 million and 1.69 million tokens during the a one minute window — more than eight times typical levels.
Key Technical Levels Signal Continued Pressure for XLM
Support/Resistance Analysis:
- Immediate support holds at $0.2449 session lows.
- Strong resistance confirmed near $0.2600 level.
- Critical support breakdown completed at $0.2520.
Volume Analysis:
- 36.3 million volume spike marked 78% above daily average.
- Consecutive 1.7 million+ volume surges during breakdown.
- 8x normal volume levels confirmed institutional selling.
Chart Patterns:
- Consecutive lower highs pattern from $0.2602 peak.
- Accelerating bearish momentum through support violations.
- Two-wave selling structure dominates 60-minute chart.
Targets & Risk/Reward:
- Downside target sits at $0.2430 if momentum continues.
- Resistance builds at $0.2520 as former support flips.
- Key reversal level remains $0.2600 for recovery attempts.
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