The Stellar XLM token underwent a strong institutional sale pressure between August 17 at 3:00 p.m. and August 18 at 2:00 p.m., from $ 0.43 to $ 0.41 in a drop of 6%.
Negotiation volumes during the period 24 hours a day exceeded $ 30 million, which represents around 7% of daily turnover.
The most notable liquidation event occurred between 1:00 and 3:00 on August 18, when the institutional sellers discharged more than 60 million tokens. This sale forced XLM from $ 0.42 to $ 0.41, creating strong resistance at $ 0.42 and defining a new support almost $ 0.41.
Despite the attempts to recover, the assets did not break the resistance zone, signaling a persistent institutional drop and leaving XLM vulnerable to the decline.
The time of final negotiation of August 18 added a new pressure, because XLM recorded a drop of 1% between 1:2 p.m. and 2:20 p.m. The institutional sale has accelerated between 1:31 p.m. and 1:42 p.m., business liquidations passing prices from $ 0.41 to $ 0.41 over volumes exceeding 2.7 million units.
This wave of activity confirmed the resistance to $ 0.41 and set a short -term support floor at the same level. Multiple recovery attempts throughout the time were welcomed with a renewed sale pressure, culminating in a stagnation of around $ 0.41 with a minimum volume in the last 20 minutes.
The lack of purchase interest highlights the possibility of greater weakness if the sellers take back the momentum.
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