Stellar price weakened on November 17, sliding 1.2% over 24 hours as volatility and volume increased. XLM rose from $0.2580 to $0.2548 while creating an unstable 3.3% consolidation range.
The tone of the session changed significantly after a sharp rejection from resistance near $0.2607, confirming a break from the previous uptrend and signaling deterioration in momentum.
The most decisive move occurred around 1:00 p.m. UTC, when a volume spike of 30.4 million XLM, well above the daily average, pushed XLM below its ascending trendline of $0.2521.
Subsequent 60 Minutes action showed accelerating bearish pressure, with heavy selling pushing the token from $0.2586 to $0.2535. The break of key support at $0.2527 and new session lows around $0.2531 opened the door for a possible retest of the psychological zone of $0.2500.
Key technical levels signal bearish momentum for XLM
Support/Resistance: Primary support tests at $0.2527 before breakdown, with a psychological level of $0.2500 as the next target; resistance stands at $0.2607 with a rejection of the session high at $0.2617.
Volume analysis: A massive spike to 30.4 million during the outage represents a 78% increase above the 24-hour average, confirming institutional selling pressure at critical levels.
Chart templates: The ascending trendline from $0.2521 breaks decisively, a volatile consolidation pattern with a range of 3.3% suggests continued uncertainty in the near-term direction.
Targets and risk/reward: The immediate downside target at $0.2500 represents a 1.9% decline from the breakout level, while a recovery above $0.2580 must take place to negate the bearish structure.
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