The native token XLM of Stellar fell with the larger market in the last 24 hours, with large volumes occurring at the turn of the day. The decline occurred even as rain, the platform issuing the world card powered by Stablecoins, announced Thursday the support for stellar alongside integration with Solana and Tron.
XLM dropped 7% over 24 hours, from 0.288 to 0.271, with an exceptionally high sales volume. The cryptocurrency threw a trend, marking the recovery of April stockings, imitating a model seen in the XRP cryptocurrency focused on payments.
However, despite the drop in prices, the integration of Stellar with rain offers a rare light point in a differently austere market feeling. Integration is a significant step towards traditional adoption, allowing users to spend stalls held on these high speed networks for daily purchases.
Technical analysis
- XLM-USD experienced a significant drop of 7% over 24 hours, from 0.288 to 0.271.
- An exceptionally high sales volume of 76.9 m occurred at midnight (00:00), establishing high resistance at 0.280.
- The support emerged around 0.270-0.271, with a substantial purchase volume (74.7 m) during 01:00.
- The price formed a critical support area at 0.270-0.271 which was tested several times with a high volume.
- Temporary recovery started at 9:43 am, forming an upward channel model before selling the returned pressure.
- The last hour showed a volatile exchange, the prices falling to 0.270 before recovering slightly to 0.273, then going to 0.271 in high volume (2.24 m).
