Stellar’s XLM token faced notable fluctuations in the market over the past day, experiencing a decline of 3%. This downturn was primarily influenced by significant selling pressure from institutional investors that dominated trading activities. The price of XLM slipped from $0.39 on September 14 at 15:00 to $0.38 by September 15 at 14:00, with trading volumes soaring to 101.32 million—nearly three times the average for the previous 24 hours.
The most dramatic decline took place during the morning of September 15, when the token plummeted from $0.395 to $0.376 in just two hours. This movement established a strong resistance level around $0.395, while tentative support appeared to form near $0.375. Despite the prevailing downward trend, there were indications of resilience in the market.
Between 13:15 and 14:14 on September 15, XLM made a brief comeback, rallying from $0.378 to a session high of $0.383 before ultimately settling at $0.380. During this recovery effort, trading volumes exceeded 10 million, with a notable 3.45 million units exchanged in a single minute as buyers attempted to break through the established resistance. However, the momentum was thwarted, and a consolidation pattern began to develop in the $0.380–$0.381 range, indicating a potential new support level.
This market scenario suggests patterns indicative of institutional profit-taking, reflecting dynamics that often accompany significant price movements. The ongoing supply pressure has reinforced resistance at the $0.395 mark, where several attempts to rally have faltered. Meanwhile, the established support near $0.375 appears to attract opportunistic buying during periods of liquidation. For traders, this $0.375–$0.395 price band is emerging as a critical area that will likely dictate the direction of XLM in the near future.
Technically, XLM’s price movement has demonstrated a volatility range of 5%, with fluctuations between peak and trough recorded as $0.019. With ongoing market activity, traders and investors alike will be closely monitoring these levels as they continue to assess the potential for recovery and the implications of institutional involvement in the token’s performance.
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