Stellar’s native token XLM has resisted intense volatility in the last 24 hours, plunging at key support levels before staging a robust rebound. The moves, marked by an unusually heavy institutional negotiation activity, stressed the accent put by the market in the support zone from 0.36 to 0.37 $ as traders weigh the prospects of an escape to higher targets.
During the Asian negotiation session, XLM dropped $ 0.36 over volumes exceeding 40 million, more than double the average 24 hours a day – soliding this price area as high volume critical support. The sale was quickly absorbed, the token dates back to $ 0.37, a sign that institutional players can accumulate positions at reduced levels.
The last hour of negotiation on September 24 was particularly turbulent. XLM slipped strongly to $ 0.368 at 13:37 before recovering from the session peaks of $ 0.369 per 14:10. The volume peaks at 13:37 (1.27 million), 13:58 (1.19 million) and 13:59 (1.58 million) highlighted significant institutional flows stimulating intra -day fluctuations.
Technical indicators signal consolidation schemes
- The price range of $ 0.01 representing 4% volatility indicates active negotiation interest.
- High volume support test at $ 0.36 with 40.69 million in negotiation volume.
- Recovery to $ 0.37 during Asian negotiation hours suggests institutional purchases.
- The critical support zone established about 0.36 psychological $.
- The volume tips at the last hour indicate an important institutional activity.
- Consolidation model training greater than $ 0.37 Support area.
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