- Stellar’s XLM rose 6% in 24 hours, ending at $0.35.
- XLM traded within a narrow $0.02 range, showing notable volatility and swift recovery.
- Strong last-hour trading indicated institutional accumulation, with a spike in trade volume to 15 million tokens.
- Analysis confirmed key support at $0.34 and strong resistance at $0.35.
- Bullish sentiment appears to return to crypto markets after recent selloffs.
Stellar’s XLM token recorded a 6% price increase over the past day, reaching $0.35 after a volatile trading session. The token moved between $0.33 and $0.35, briefly dropping to $0.34 before buyers lifted the price again.
During the final hour of trading, XLM saw a strong surge in activity. At 13:29, the asset hit $0.34 but rebounded to $0.35 within three minutes as buyers traded 15 million tokens in a rapid push. Technical analysts pointed to this as evidence of institutional buying.
Market analysts observed that XLM’s recovery reflects the overall resilience of cryptocurrency markets, even with ongoing economic challenges. Veteran trader Peter Brandt called the recent weakness a “temporary shakeout” and noted the uptrend remains intact. Wave-4 technical support held steady, supporting the claim of a bullish continuation pattern.
Key support has emerged at the $0.34 level, while strong resistance sits at $0.35, according to trading data. Volume patterns over the last 24 hours set a benchmark at 37.5 million XLM traded, highlighting key buy and sell zones. Analysts expect that, with volume-backed accumulation and resistance remaining firm, XLM’s price could continue to trade in a tight range or extend its recovery. For more information, see CoinDesk’s full AI Policy.
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