Stellar Drops 2.2% to $0.2727 as Key Resistance Rejects Rally

Stellar (XLM) extended its recent decline, dropping 2.2% to $0.2727 after failing to break the key resistance level at $0.2815. This rejection was accompanied by a significant 62% spike in trading volume, signaling strong institutional selling pressure and confirming a bearish bias, reinforced by a series of lower highs.

A brief recovery attempt on the 60-minute chart failed, triggering a swift drop and confirming a false breakout pattern within the broader downtrend. As buying interest waned, overall volume contracted significantly toward the session close.

Immediate support for XLM is identified around $0.2709–$0.2720, with the psychological $0.27 level offering a temporary floor. A sustained breakout above the firm $0.2815 resistance is required to reverse the current downside vulnerability.

(Source：CoinDesk)