Stellar’s XLM token returned well on October 3 after a brief test of new highs. The token rose to $ 0.4041 in Japanese trading, but the heavy sale after 14:00 was dragged by the UTC back to $ 0.4015, removing the previous acquisitions.
Volumes spy during sale, with more than 1.4 million tokens exchanged in a single minute, signing the institutional sale in resistance and increasing risk of further collapse.
The move came as the Bitcoin.com Wallet Integrated Stellar and its defi protocols, expanding XLM payments. Seasonal trends can provide support, with the history of October a strong moon for crypto, even if the near term remains.
Technical summary
- The volume evaluation revealed an increase in activity during the initial advancement with an extremely strong sales volume exceeding 1.4 million during the 14: 00-14: 01 timeframe period.
- The resistance was formed around the $ 0.41- $ 0.41 zone where the pressure sales price were repeatedly encountered.
- Support levels identified near $ 0.40- $ 0.40 where the purchase of interest is material several times.
- The formation of aggregation developed between $ 0.40- $ 0.40 indicating potential accumulation.
- The bearish return pattern has been proven by institutional distribution at the peaks of the session.
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