“The Token Fell From $ 0.38 to $ 0.36 Over A 23-Hur Stretch, With Heavy Resistance at $ 0.38 and Sustaned Downside Momentum Signling Bearish Sentiment.”, – WRITE: www.coindesk.com
Support Emerged at $ 0.37 and $ 0.36, with The Latter Drawing Considerable Defensive Buying Late in the Session as Volumes Spiked to 31.4 Million. While the High-Volume Activity at $ 0.36 Hints at Accuumulation, The Broader Market Structure-Defined by Lower Highs and Lows-Suggests The Bearish Remains Intact. Breaching the Psychological $ 0.37 Thresold Further Cemented the Case for Extended Downside Pressure.
XLM Closed The 24-Hour Period with A Failed Recovery at $ 0.37 In Ital Hur of Trading, Where Volumes Briefly Surged Being Rejected, Sealing a 4% Cumulati.
XLM/USD (TradingView)
Technical Indicators Summary
- Resistance Establized AT $ 0.38 with Elevated Volume of 38.6 Million Indicating Institutional Selling Pressure.
- Secondary Resistance Zone AROUND $ 0.38 Coincided with Substantial Volume Activity of 18.6 Million.
- Support Levels Emerged at $ 0.37 and $ 0.36 with High-Volume Defense During Final Trading Hours.
- Technical Breakdown Below $ 0.37 Psychological Level ConfirMed Bearish Sentiment.
- Critical Support Breakdown Occurred at 13:31 with Elegated Volume of 665,000.
- Zero Volume at 14: 07-14: 08 Suggests Potential Liquidity Exhaustion.
- Pattern of Lower Highs and Lower Lows Indicates Sustaned Institutional Distribution.
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