The native token XLM of Stellar underwent strong institutional sales pressure during the last negotiation session, going from $ 0.39 to $ 0.36 between August 28 at 3:00 p.m. and August 29 at 2:00 p.m.. Market data show that more than 41.89 million XLMs have changed hands, volumes by increasing as the important carriers reduced exposure.
Despite the pressure, the push of Stellar’s company remains intact. The Stellar Development Foundation indicated that the network approached 10 million accounts recorded, stimulated by daily growth of 5,000 to 6,000 new corporate portfolios. Strategic partnerships with Moneygram International and Circle Internet Financial continue to stimulate the adoption of Stellar’s payment rails in cross -border finance.
Analysts demonstrated net intra -day oscillations on August 29, when XLM dropped by 1.38% between 1:26 p.m. and 2:06 p.m., before institutional buyers returned to the market. The token recovered 1.27% from the 15 -minute window that followed, closing the session at $ 0.361 after briefly touched $ 0.357.
A spokesperson close to Stellar’s business strategy stressed that the turbulence of the market was focused on feeling rather than the reflection of business fundamentals. The end of the session rebound suggested that some major buyers have considered decline as an opportunity to buy, highlighting the confidence in Stellar’s long -term role in blockchain -based financial infrastructure.
Technical market indicators report a mixed business feeling
- XLM displayed a drop of 7.74% from $ 0.39 to $ 0.36 during the negotiation period from August 28 to 29.
- The daily negotiation range reached $ 0.031 between the session of $ 0.387 and the bottom of $ 0.356.
- A cutting -edge sales activity occurred during European negotiation hours in the morning on August 29, a volume exceeding the average of 24 hours of 41.89 million units.
- The technical resistance established nearly $ 0.373 because institutional buyers remained cautious.
- Support levels identified at $ 0.375 and $ 0.362, the lower threshold showing stability during final negotiation hours.
- A high exchange volume during the drop indicates potential institutional accumulation strategies.
- An intra -day price range of $ 0.005 during the 60 -minute final negotiation period shows continuous market interest.
- Support for $ 0.357 attracted institutional purchase interest before closing the session.
- The last hour recovery of 1.27% on the volume greater than 2 million units suggests that corporate cash services could accumulate positions.
Non-liability clause: Parties of this article were generated with the help of AI tools and examined by our editorial team to guarantee the accuracy and membership of Our standards. For more information, see Complete Coindesk AI policy.
