“XLM Briefly Pushed Higher On Oct. 3 Before Sharp Selling Erassed Gains, Highlighting Resistance Near $ 0.41 Even As Bitcoin.com Wallet Integration Expands Stellar’s Reach.”, – WRITE: www.coindesk.com
Volumes Spiked Durying the Sell-Off, with More than 1.4 Million Tokens Traded in a Single Minute, Signaling Institutionalal Seling at Resistance and Raising the Risk of Further Downside.
The Move ComESS As Bitcoin.com Wallet Integrated Stellar and Its Defi Protocols, Expanding Xlm’s Payments Reach. Seasonal Trends May Provide Support, with October Historically a Strong MONTH FOR Crypto, Thought Near-Term Pressure Remains.
XLM/USD (TradingView)
Technical Indicators Summary
- Volume Analysis Revealed Increated Activity Durying Initial Advance with Exceptionally Strong Selling Volume Exceeding 1.4 Million Dringing The 14: 00-14: 01 TimeFrame.
- Resistance Formed AROUND $ 0.41- $ 0.41 Zone Price Repeatedly Encounted Selling Pressure.
- Support Levels Identified Near $ 0.40- $ 0.40 WHERE BUYING INTEREST MATERIialized Multiple Times.
- Consolidation Formation Developed Between $ 0.40- $ 0.40 Indicating Potential Accumulation.
- Bearish Reversal Pattern Validated by Institute Distribution at Session Peaks.
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