Market recovery: XLM leads with 6% gain per day
Stellar’s XLM rose 6% in the past 24 hours, weathering increased volatility to close at $0.35. The asset traded within a $0.02 range between $0.33 and $0.35, briefly falling to $0.34 before buyers regained control. This recovery confirms the growing bullish sentiment across major crypto assets following October’s selloff.
Institutional investor buying signals
The last hour of trading showed strong accumulation by institutional investors. XLM opened at $0.35 but fell to $0.34 by 1:29 p.m. In a sharp three-minute rally from 13:31 to 13:33, bulls pushed the price back to $0.35 on the back of a surge of 15 million traded tokens. Technical analysts consider this move to be a sign of institutional investor participation.
Technical image and macro context
XLM’s performance reflects the resilience of the broader cryptocurrency despite continuing macroeconomic headwinds. Analysts point to solid fourth-wave support, validating a bullish continuation pattern. Veteran trader Peter Brandt reiterated his confidence in top digital assets, calling the recent market downturn a “temporary shakeout” amid an intact uptrend.
outlook
Resistance remains at $0.35, indicating continued selling pressure, while support has solidified at about the same level, suggesting a coiled setup. With an hourly gain of 1% through the close and volume-supported accumulation, XLM appears poised to further extend its recovery momentum in the short term.
Overview of technical indicators
- A major support zone emerges between $0.34 and $0.34, with buyers consistently intervening.
- Resistance will form at the $0.35-$0.35 level, where selling pressure will increase.
- Trading volume patterns indicate institutional investor participation at key inflection points, with a 24-hour average of 37.5 million sets being the benchmark.
- Strong resistance lies at $0.35, with consistent sellers appearing in the final session.
- Support is centered around $0.35, with a narrow range forming over the last 30 minutes.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s complete AI policy.
