Stellar’s XLM token underwent heavy pressure sale of the institution between August 17 to 3:00 pm and August 18 and 2:00 pm, slipping from $ 0.43 to $ 0.41 to a 6% decline.
Trade volumes over a 24-hour period lead to $ 30 million, representing about 7% of daily shifts.
The most prominent extermination event occurred between 1:00 am and 3:00 am on August 18, when institutional sellers loaded more than 60 million tokens. This sale forced XLM from $ 0.42 to $ 0.41, creating a strong resistance to the level of $ 0.42 and determining the new support near $ 0.41.
Despite recovery attempts, the owner continued to fail to break the resist zone, which signed a continuous institutional bearness and left the XLM vulnerable to further fall.
The final trading time on August 18 added fresh pressure, as XLM registered a 1% collapse between 1:21 PM and 2:20 PM. The institutional sale was accelerated between 1:31 pm and 1:42 pm, with liquid corporates pushing prices from $ 0.41 to $ 0.41 to volumes of over 2.7 million units.
This fuzzy activity confirmed a resistance to $ 0.41 and set a short -term support floor at the same level. Multiple recovery attempts throughout the time have been addressed by the updated sale pressure, ending with a motion near around $ 0.41 with a small amount of volume in the last 20 minutes.
Lack of interest purchase features the possibility of additional weakness that sellers should recover momentum.
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