Stellar Continue slides less than 24 hours, with price action emphasizes a clear bias. Between September 3 at 15:00 and Sept. 4 at 14:00, XLM poured 2.72%, falling from $ 0.368 to $ 0.358.
The move came within a tight $ 0.012 range, reflecting the 3.26% volatility of the intraday. Sellers have continued to denote attempts to push above the level of $ 0.362, especially during the Sept. 4 13:00, while the $ 0.357- $ 0.358 area provides short support. However, downside pressure mounted suggests that the zone may not hold, leaving the room for extended weakness.
Market forces appear to exacerbate Stellar’s recent collapse. Despite many attempts at Bounce, the resistance near $ 0.362 remains stable. These dynamics are in conjunction with the upgrading of Stellar’s Protocol 23 upgrading the network in Sept. 3, but the technical milestone failed to provide the kind of bullish catalyst needed to contradict the existing MacRO pressure.
The sentimental sentiment also reflects a careful tone. On September 2, a wave of fluids worth about $ 192,000 occurred while XLM slipped from $ 0.40- $ 0.45 range, featuring the weakness of entrepreneurs in sudden moves. The cascade of that liquidation has since set the stage for continued shrinkage, which has been aligned with the larger pattern of positioning at the risk of major players in the market in the midst of uncertainty and financial uncertainty.
At the forefront, Stellar faces an important support test. After a repeated decline in the resistance level of $ 0.45, the token is now flying towards the $ 0.32- $ 0.30 demand zone. If this level could attract sufficient interest in purchase would likely determine the nearby XLM trajectory. To date, technical and macro signals both point to long bearish momentum unless the broader sentiment is stabilized.
Technical indicators indicate additional weakness
- The price declined from $ 0.368 to $ 0.358, representing a 2.72% drop within 24 hours.
- The overall incidence of trade reaches $ 0.012, equivalent to 3.26% volatility.
- Clear resistance established at $ 0.362 level with many denial attempts.
- The high volume of 21.47 million during the 4th September 13:00 session exceeds the 24 -hour average of 16.23 million.
- Zone support identified around $ 0.357- $ 0.358 will appear fragile.
- Acceleration of the decline in the final trading time suggests a continuous sale of pressure.
- The volume was reduced from peak of 28.5 million to 16.7 million shares indicating the weakening of momentum.
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