Stellar’s Token XLM was under a strong institutional sales pressure in the last negotiation session, falling from $ 0.39 to $ 0.36 between August 28 at 3:00 pm and August 29 at 2:00 pm et. Market data show that more than 41.89 million changed hands, with volumes increase as large holders reduce exposure.
Despite the pressure, Stellar’s business thrust remains intact. The Stellar Development Foundation reported that the network is close to 10 million registered accounts, promoted by a daily growth of 5,000–6,000 new corporate wallets. Strategic associations with Moneygram International and Circle Internet Financial continue to promote the adoption of Stellar payment rails in cross -border financing.
The analysts highlighted the acute intradic changes on August 29, when XLM fell 1.38% between 1:26 pm and 2:06 pm, before institutional buyers re -entered the market. The Token recovered 1.27% during the 15 -minute window that continued, closing the session at $ 0.361 after briefly touching $ 0.357.
A spokesman near Stellar’s corporate strategy emphasized that market turbulence was driven by feeling instead of a reflection of commercial foundations. The rebound of the late session suggested that some great buyers saw the decrease as a purchase opportunity, which underlines the confidence in the role of long -term Stellar in the financial infrastructure based on blockchain.
Technical Market Indicators Signal Mixed Corporate Feeling
- XLM registered a 7.74% decrease from $ 0.39 to $ 0.36 during the negotiation period from August 28 to 29.
- The daily negotiation range reached $ 0.031 between a maximum of the $ 0.387 and minimum of $ 0.356.
- The maximum sales activity occurred during the morning of European negotiation on August 29 with a volume higher than the 24 -hour average of 41.89 million units.
- The technical resistance established near the level of $ 0.373 as institutional buyers remained cautious.
- Support levels were identified at $ 0.375 and $ 0.362, with the lowest threshold that shows stability during the final negotiation hours.
- The high commercial volume during the decline indicates possible institutional accumulation strategies.
- The intra -diagram of $ 0.005 during the 60 -minute final negotiation period demonstrates the continuous interest of the market.
- Support at $ 0.357 attracted institutional purchase interest before the session.
- The recovery of the final time of 1.27% in the volume of more than 2 million units suggests that the departments of the corporate treasure may be accumulating positions.
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