“Network Upgrades Trigger Exchange Halts While African Expansion Fuels Institutional Buying Amid Volatile Price Action.”, – WRITE: www.coindesk.com
Trading Volume Surged Past 57 Million Units at Midnight As the Market Tested Support AUOUND The $ 0.34– $ 0.35 Zone. Buyers Stepped Back in Early The Next Morning, Briefly Lifting Xlm Back to $ 0.36 On the Back of What Appeared to Be Institutional Accuum, with Volumes Swelling to 70 Million Units.
Despite The Recovery, Price Action Stalled AROUND $ 0.36, Creating A Range-Bound Structure That Technical Traders Say Often Precedes A Directional Breakout. The Final Hour of Trading on Sept. 1 Showed Bearish Momentum Regaining Control, With Xlm Slipping 1% As The Consolidation Pattern Broke Down.
Intra -Data Highlighted An Acceleration of Selling Pressure Between 13:45 and 13:46, WHEN more than 1.28 Million Tokens Changed Hands at the Day’s Low. AtTempts at recovery Fizzled Before the Close, and A Lack of Activity in the Final Minute Suggested Trading Hading Had Effectvely Ground to a Halt.
The Token’s Fundamentals Were ALSO TESTED by Exchange- and Network-Related Developments. South Korea’s Bithumb Announced It Will Suspend XLM Deposits on Sept. 3 While Stellar Implements Network Upgrades, A TEMPORARY Disruption that Underscores The Blockchain’s Transition Into A Critical Upgrade Phase Phase The MONTH.
At Same Time, Ripple’s Completion of Pilot Tests With Banks Has Bolstered Broader Confidentnce in Blockchain-Based Payment Solutions, Putting Added Pressure on Stellar To.
XLM/USD (TradingView)
Volume Spikes Signal Institutional Activity
- $ 0.02 Trading Range RepreSents 5% SPREAD BETWEEN $ 0.34 Support and $ 0.36 Resistance Durying Session.
- Midnight Selloff Generates 57 Million Volume Spike Indicating Heavy Institutional Selling.
- Morning Recovery Surge Hits $ 0.36 On 70 Million Volume Suggesting Acumulation Phase.
- Resistance ConfirMed AT $ 0.36 with Support Zone Establized AROUND $ 0.34- $ 0.35.
- Final Hour Recovery Attemps Fail As Bearish Momentum Accelerates.
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.
Underlying Network Activity Surged, With Daily Active Wallet Addresses On BNB Chain More than Doubling to 2.5 Million, But Transaction Volumes Have Been Droping Steady Late Late June.
- BNB’s Price Saw Sharp Intrady Swings, Trading Between $ 849.88 and $ 868.76, But Ultimately Failed to Hold Gains.
- Underlying Network Activity Surged, With Daily Active Wallet Addresses On BNB Chain More than Doubling to 2.5 Million, But Transaction Volumes Have Been Droping Steady Late Late June.
- The Price Action Is Ahead of Key Economic Data From The Us, Including Jobs Data, WHICH Could Influence The Federal Reserve’s Interest Rate Decision, with A Near 90% CHANCE OF A 25 BPS.
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