XLM Tumbles Below Key $0.285 Support as Bears Take Over
CoinDesk
XLM fell to $0.281 amid surging volume after failing to break resistance near $0.290, losing critical $0.285 support.Summary
Stellar (XLM) experienced significant selling pressure, sliding from $0.2846 to $0.2812 as institutional distribution emerged at higher price levels. The token experienced 6.7% volatility, with trading volume spiking 115% above average when the price tested resistance near $0.290 before sellers overwhelmed buyers. This led to a decisive break below the critical $0.285 support zone, confirming bearish momentum characterized by lower highs and lower lows on recent 60-minute charts. Key technical levels now place immediate downside targets in the $0.278-$0.280 range, with the former support at $0.285 now acting as resistance for any potential bounce attempts.
(Source：CoinDesk)