Stellar’s native XLM token has fallen along with the broader market over the past 24 hours, with large quantities taking place at the turn of the day. The decline occurred despite the rain, the global card that released the platform powered by Stablecoins, was announced on Thursday’s support for Stellar in conjunction with Solana and Tron.
XLM dropped 7% within 24 hours, decreasing from 0.288 to 0.271, with an extremely high sales volume. Cryptocurrency dives out of a trendline, which marks recovery from April lows, mimic a pattern seen in Cryptocurrency XRP’s cryptocurrency payments.
However, despite the fall of the price, Stellar’s integration in the rain has offered a rare bright spot in a non -dour market sentiment. Integration is a significant step toward mainstream adoption, allowing users to spend stablecoins held on these high-throughput networks for daily purchases.
Technical analysis
- The XLM-USD has experienced a significant 7% decline over 24 hours, decreasing from 0.288 to 0.271.
- An extraordinary high volume of seller of 76.9m took place at midnight (00:00), establishing a strong resistance to 0.280.
- Support appeared around 0.270-0.271, with a large amount of purchase (74.7m) within 1:00 hours.
- The price is formed by a critical support zone at 0.270-0.271 tested several times with high volume.
- A temporary recovery began at 09:43, forming an ascending channel pattern before selling the pressure.
- The final time showed the trading -change, with prices dropping to 0.270 before recovering slightly to 0.273, then returning to 0.271 in high volume (2.24m).
