XLM rebounded greatly after faced a night sale pressure, the token dates back above $ 0.39 during European negotiation hours on Tuesday. This decision followed a sharp decline which saw the asset fall from $ 0.39 to 2 h UTC at $ 0.38 to 4 am, marking the steepest drop in the session. A high negotiation activity around the level of $ 0.38 reported a high demand, helping to establish this area as a key support area.
The rebound has grown when the markets in Europe opened, pushing XLM to $ 0.39. Analysts noted that the recovery suggested institutional interests, traders probably accumulating at reduced prices. Action of prices during the 24 -hour window of September 16 at 3:00 p.m. UTC at September 17 at 2:00 p.m. UTC highlighted resilience, the active that oscillates in a narrow strip of $ 0.38 to $ 0.39 – a swing of 2% despite increased volatility on the wider cryptographic markets.
Intrajournal trading in the last hour of the observed period reflected this rope shot between bulls and bear. After briefly tested $ 0.39 at 13:25 UTC, XLM returned to its low 20 -minute session later before resuming the momentum. The recovery of the DIP underlined the purchase of conviction, the closure of the token nearly $ 0.39 and preserving its upward structure before the American session.
Technical indicators signal architecture of constructive momentum
- Negotiation parameters from $ 0.38 to $ 0.39 are a 2% volatility differential during the 24 -hour evaluation period.
- The acute nocturnal drop from $ 0.39 to $ 0.38 marked the most pronounced lowered feeling of the period.
- High participation in volume of approximately $ 0.38 Threshold established the confluence of critical demand.
- The recovery dynamics have accelerated throughout European trade with ascent beyond $ 0.39.
- The institutional accumulation confirmed at reduced levels around psychological support of $ 0.38.
- The succession of ascending hollows by consolidating price behavior suggests an underlying optimistic conviction.
- The volatility of mid-session examined the critical support infrastructure during a one hour negotiation window.
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