“South Korea’s Largest Exchange Pauses Operations As Stellar Prepares for a Major Network Overhaul, With XLM Price Action Showing Resistance at $ 0.37.”, – WRITE: www.coindesk.com
The Schereduled Modernization, Set for Sept. 3, is expert to enhance Scalacy and Accelerate Transaction Speeds, Prompting Several Exchange to Adopt Stability Measures Durying the Transition.
Xlm Traded in a Narrow Between $ 0.36 and $ 0.37 in the 24 Hours Leading Up to the Upgrade, With Volume Spikes Coinciding With Tests of Resistance at the Upper End of that Range.
Despite Multiple Attempts to Break Through $ 0.37, Selling Pressure Kept Prices CAPPED, WHILE STRONG SUPPORT FORMED AT $ 0.36. Analysts Suggest this Consolidation Reflects Institutional Accuumulation, with Market Participants Watching Closely for a Decisive Breakout.
The Final Hour of Trading Before The Suspension Suspension Heigheted volatility, with Xlm Briefly Touching $ 0.37 Before Slipping Back to $ 0.36. The Price Action Underscores the Network’s Importance in Cross-Border Payments and the Growing Institutional Focus on Digital Asset Infrastructure.
Broader Momentum is Also Being Fueled by Rising Interest in Central Bank Digital Currencies (CBDCS) and Enterprise Blockchain Adoption, Including Partnerships Involving Hedra.
With Stelh’s Protocol 23 Upgrade Underway, Traders Are Eyeing Two Critical Levels: The $ 0.45 Resistance, WHICH Xlm Has Failed to Clear on Four Separate 03 Occasions. Support Zone, Seen As A Potential Accuumulation Area. Market Observers Say The Outcome of the Upgrade Coulde Dictate Whtcher Stelher Stellar Finally Breaks Through ITS CEILING OR RETREATS TO REBUILD SUPPORT AT LOWER Levels.
XLM/USD (TradingView)
Principal Technical Indicators
- Price parameters: XLM Traded with A $ 0.36- $ 0.37 Corridor Durying the 24-HOUR PERIOD WITH 3% AGGregate volatility.
- Volume Assessment: Peak Trading Activity of 28.91 Million Durying Resistance Examination at the $ 0.37 Threshold.
- Support/Resistance DyNamics: Robust Resistance Establissed at $ 0.37 with Support Maintening Integrity AOUND $ 0.36.
- Breakout Configures: Multiple Unsuccessful Attemps to Sustain Valuations Above the $ 0.37 Resistance Threshold.
- Institutional Participation: Volume Surges Coinciding with Key Technical Levels Suggest Accumulation Patterns Amongst Sophisticated Market Participants.
Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.
SOL IS The “MOST OBVIUS LONG RIGHT NOW,” FUELED by UP to $ 2.6 Billion Demand from Crypto Vehicles in the Next MONTH, Arca cio Jeff doorman Said.
- Solana (Sol) HAS SURGED 33% SINCE EARLY AUGUST, OUTPERFORMING MAJOR CRYPTOCURRINCIES LIKE BITCOIN AND Ether Over The Past Few Weeks
- The token is Benefitting from Crypto Investors Rotating Profits Beyond Btc and Eth, Youhodler’s Head of Risk Said.
- Sol Could Replicate Ether’s 200% Rally As Up to $ 2.6 Billion in Treasury Inflows and Etf Decisions Loom, Arca’s Jeff Dorman Said.
Read Full Story