“Critical Support Breakdown at $ 0.38 Triggers Institutional Selling Amid Broader Crypto Market Stress.”, – WRITE: www.coindesk.com
The Breakdown Below The Key $ 0.38 Support Level Marked A Clear Shift in Sentiment as Trading Intensified Within A Narrow $ 0.019 Range. Market Structure Analysis Showed A Descending Channel Pattern Forming, with Repeated Repeated Rejects Near $ 0.38 Suggesting Sustaned Bearish Control.
Durying the Final Hour of Trading, from 13:13 to 14:12 on October 9, XLM SHED ACTHER 1%, with Significant Volume Spikes at 13:52 and 14:01 Signaling Coordinated InstitutaLING. Analysts SAID The MOVE REFLECTED CONTINUED LIQUIDATION ACROSS PROFESSIONAL TRADING Desks Racher than sixth-Term Retail Action.
XLM/USD (TradingView)
Technical Indicators Signal Further Weakness
- Critical Support Failure at $ 0.38 Accompanied by Institutional-Grade Volume of 35.51 Million Exceeding Standard Trading Metrics
- Establized Downntrend Pattern with Successive Lower Highs Indicating Systematic Institutional Distribution
- Resistance Zone Established at $ 0.39 WHERE INSTITATION SELLING CONSIVI STARGED DURING RECOvery Attempts
- Above-Average Volume Participation Durying Price Reversals Confirming Coordinated Institutional Distribution Strategies
- Technical Chart Pattern Shows Descending Channel Formation with Lower Highs at Key Resistance Levels
- Failed Recovery Attempts Near $ 0.38 Consistentally Met with Institutional Supply Indicating Strong Overhead Resistance
- Volume Concentration During Decline Phases With 1.34 Million at 13:52 and 1.43 Million at 14:01 Confirming Institutional Participation
- Technical Momentum Indicators Suggest Continued Downside Pressure Tount The $ 0.38 Psychological Support Threshold
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.
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