Stellar Slips as Key Support Breaks, Signaling Mounting Bearish Momentum
CoinDesk
Stellar (XLM) price dropped after breaking critical support at $0.2527 on high volume, indicating increasing bearish pressure.Summary
Stellar's price weakened by 1.2% on November 17, falling from $0.2580 to $0.2548 amid surging volatility and volume. The market structure turned decisively bearish after XLM rejected resistance near $0.2607 and subsequently broke below its ascending trendline, driven by a significant volume spike of 30.4 million XLM around 13:00 UTC. This breach of key support at $0.2527 has opened the door for a potential retest of the psychological $0.2500 zone, with recovery above $0.2580 required to negate the current bearish structure.
(Source：CoinDesk)