The XLM was strong after the overnight selling pressure, along with the token climbing back above $ 0.39 at European trading time on Tuesday. The move followed a sharp sink which saw the fall of the owner from $ 0.39 at 2 am to $ 0.38 at 4am, marked the session’s steep decline. Raised trading activity around $ 0.38 levels has signed a strong demand, helping to promote that zone as a major support area.
Bounce gained momentum as markets opened in Europe, pushing the XLM back to $ 0.39. Analysts noted that recovery has suggested interest in the institutional, that there are entrepreneurs who are likely to have accumulated at discount prices. Price action during the 24 -hour window from Sept. 16 and 15:00 UTC until Sept. 17 at 14:00 was highlighted by the UTC resilience, with an oscillating asset within a narrow $ 0.38- $ 0.39 band-a 2% swing despite increased volatility in the broader crypto market.
The intraday trading at the last time of the following period reflects the tug-of-war between the bulls and the bears. After a brief test of $ 0.39 at 13:25 UTC, XLM returned to the session just low 20 minutes later before the momentum was recovered. The recovery from the DIP underscored belief purchase, along with the token closing near $ 0.39 and preserves the bullish structure going to the US session.
Technical signal indicators that make up the architectural momentum
- Trade parameters of $ 0.38 to $ 0.39 make up a 2 percent variation of volatility during the 24-hour assessment.
- The chronic nocturnal collapse from $ 0.39 to $ 0.38 marked Bearish’s most pronounced sentiment.
- The raised volume of participation around the $ 0.38 threshold established the critical confirmation of demand.
- The recovery momentum has accelerated throughout European trading with a climb beyond $ 0.39.
- The accumulation of the institution has been confirmed at levels of discounts around the psychological $ 0.38 support.
- The sequential increases of lows by the practice of combined -the -sized price suggests the underlying convincing.
- The mid-session volatility examines the critical support infrastructure within a one-hour trade window.
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