XLM Price Swings: Institutional Selling Causes Volatility
XLM Faces Selling Pressure, Price Volatility
Stellar's XLM token saw significant price fluctuations over the last 24 hours, dropping 3% as institutional selling dominated trading activity. Between September 14 at 15:00 and September 15 at 14:00, the price fell from $0.39 to $0.38.
Trading volumes surged to 101.32 million, nearly triple the average 24-hour volume.
Key Price Movements
- A sharp sell-off occurred during the morning of September 15, with XLM plummeting from $0.395 to $0.376 within two hours.
- $0.395 has established itself as a strong resistance level.
- Tentative support has formed near $0.375.
Intraday Recovery
Despite the overall downtrend, XLM showed some resilience between 13:15 and 14:14 on September 15. The price briefly rebounded from $0.378 to a session high of $0.383 before settling at $0.380.
Trading volume exceeded 10 million during this period, with 3.45 million units traded in a single minute. While sellers curtailed the rally, the $0.380–$0.381 area could become a new support base.
Market Dynamics
Current market behavior suggests institutional profit-taking. Repeated failed attempts to break through the $0.395 resistance confirm persistent overhead supply. The $0.375 support level indicates opportunistic buying during sell-offs.
The $0.375–$0.395 range is the critical zone to watch for near-term directional cues.