XLM slipped into a downward trajectory in the last 24 hours, negotiating between $ 0.39 and $ 0.40 and the rupture below key support levels. The volatility of the token intensified during the final negotiation hours of August 20, when prices went from $ 0.40 to $ 0.39, marking a decisive support violation which had previously provided a dynamic of purchase. The move indicates pressure on the assets despite its attempts to consolidate around the threshold of $ 0.40.
Negotiation data revealed increased distribution activity, turnover reaching 45.04 million during the 1:00 p.m. session – well above the average 24 hours a day. The volume peak highlights the notable institutional participation for sale, amplifying the momentum. XLM’s incapacity to maintain above resistance levels and its violation of several intrajournal supports point to low-term lowering conditions.
The weakness of XLM comes despite the constructive news of the ecosystem. The Stellar Development Foundation recently initiated the capital of the Tokenization Company based in the United Kingdom Archax, highlighting its long-term growth strategy. However, wider market conditions weighed heavily, Bitcoin holding nearly $ 113,500 while Altcoins faced corrective pressure, leaving XLM exposed to continuous risk.
Technical indicators indicate continuous fragility
- The price decisively violated under the level of established support of $ 0.39 which had previously provided accumulation interests.
- The volume increased spectacularly during the most steep decline phases, with 4.92 million recorded at 14: 17, the highest minute reading.
- Did not manage to establish significant support higher than the psychological level of $ 0.39 throughout the session.
- The model of persistent lower peaks indicates that the acceleration of the amount of movement downwards remains intact.
- The zero volume recorded at 2:20 pm suggests a potential capitulation among market players.
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