Market Recovery: XLM Leads with 6% Daily Gain
Stellar’s XLM jumped 6% in the last 24 hours, closing at $0.35 after overcoming bouts of volatility. The asset traded in a range of $0.02, between $0.33 and $0.35, briefly dipping to $0.34 before buyers regained control. The rally highlights growing bullish sentiment across major crypto assets following October’s selloff.
Institutional Buying Signals
The last hour of trading was marked by strong institutional accumulation. XLM opened at $0.35 before sliding to $0.34 at 1:29 p.m. During a strong three-minute bounce between 1:31 p.m. and 1:33 p.m., the bulls propelled prices to $0.35 on the back of an increase of 15 million tokens traded – a move that technical analysts interpreted as a mark of institutional participation.
Technical image and macro context
XLM’s performance reflects broader crypto resilience despite persistent macroeconomic headwinds. Analysts point out that wave 4 support remains, validating a bullish continuation trend. Veteran trader Peter Brandt reiterated his confidence in major digital assets, calling recent market weakness a “temporary upheaval” within an intact uptrend.
Outlook
Resistance remains at $0.35, where selling pressure continues to emerge, while support has solidified near the same level, suggesting a spiral pattern. With hourly gains of 1% at the close of the session and accumulation supported by volume, XLM appears poised to extend its near-term recovery momentum.
Summary of technical indicators
- The key support zone emerges between $0.34 and $0.34, where buyers are consistently stepping in.
- Resistance builds between $0.35 and $0.35, where selling pressure intensifies.
- Volume patterns show institutional participation at critical inflection points, with a 24-hour average of 37.5 million SKUs.
- Strong resistance holds at $0.35, where sellers emerge steadily during the final session.
- Support consolidates near $0.35, creating a tight range in the final 30-minute window.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
