XLM Gains 4% as Stellar Surpasses $0.40 Resistance Level
Stellar's XLM increased by 4% in the past 24 hours, moving from $0.39 to $0.40 and briefly surpassing $0.41. Trading volumes more than doubled the daily average, creating support at $0.40 and resistance near $0.41, suggesting potential consolidation.
- The price rally was influenced by Bitcoin.com Wallet's integration of Stellar, expanding access to its fast, low-cost payment network and DeFi tools.
- Institutional interest is growing, with traditional finance showing increasing attention to blockchain-based payments.
- XLM experienced a brief spike to $0.41 between 13:11 and 14:10 UTC on October 2, with trading volumes nearly double the hourly average.
Technical Metrics Indicate Persistent Strength
- The rally progressed in two phases, initially advancing to $0.40 and then breaking through $0.41.
- Trading volumes reached 90.15 million and 61.23 million, significantly surpassing the 24-hour benchmark of 36.85 million.
- Support established at $0.40 with solid volume, while resistance formed around $0.41.
- Volume spikes exceeded 1.4 million during peak periods, above the hourly average of 750,000.
- XLM faced repeated resistance at $0.41 but maintained support at the $0.40 level.
- The upward trend remained strong, with balanced profit-taking above the critical $0.40 barrier.