XLM Drops 1.6% Breaking Key $0.25 Support Level
Stellar's XLM token fell 1.6% to $0.2451, breaking the critical $0.2520 support level amid high volume.Summary
Stellar's XLM token experienced a 1.6% decline on Tuesday, moving from $0.2491 to $0.2451, extending a pattern of lower highs from its recent peak of $0.2602. This drop confirmed a breakdown below the key technical support level of $0.2520, signaled by a significant volume spike of 36.3 million XLM, which was 78% above the 24-hour average. Traders interpreted this move, lacking clear fundamental catalysts, as institutional distribution. Bearish momentum accelerated on the one-hour chart with forceful selling waves driving the price further down, confirmed by volume surges eight times normal levels. Immediate support is now at the session low of $0.2449, while resistance has flipped to the broken $0.2520 level, with strong resistance confirmed near $0.2600.
(Source：CoinDesk)