XLM Consolidates After Sharp Decline, Testing Key Support Levels
Stellar's native token XLM experienced significant volatility, dropping to key support levels before rebounding. Institutional trading activity was notably high.
- XLM initially dropped to $0.36 with volumes exceeding 40 million, highlighting this area as a critical support zone.
- The price quickly recovered to $0.37, suggesting institutional accumulation at lower prices.
- Significant volume spikes occurred during the final hour of trading, indicating robust institutional involvement.
- A consolidation pattern is forming above the $0.37 support level.
Technical indicators suggest a consolidation pattern, with a 4% volatility range indicating active trading interest. Elevated-volume support tests and rapid recoveries point to ongoing institutional buying.