XLM recorded a volatile negotiation session in the last 24 hours, increasing from $ 0.36 to $ 0.39 before returning profits in a strong intra -investment. The measure represented an advance of 7% as the volumes increased to 56.77 million, twice the average of 24 hours, providing an increased institutional activity.
The most notable break occurred at 08:00 UTC on October 1, when the price accelerated from $ 0.37 to $ 0.38 in an exceptional purchase pressure, establishing the company support at the level of $ 0.37.
The impulse was carried out during subsequent hours, with commercial volumes greater than 55 million during the sessions of 09:00 and 11:00. This consistent demand confirmed a change in the structure of the market, turning the resistance about $ 0.38 in support while producing a series of higher minimums that reinforced the upward trend. Analysts often see this pattern as evidence of accumulation by larger players that position before the key levels of resistance.
That impulse, however, was fleeting. During the last hour of the session, XLM turned over $ 0.39 to $ 0.37 as profits were established. The acute sheet at 13:41 UTC, which reduced prices in two cents in less than 30 minutes, erased much of the previous profits and created a decrease that interrupted the previous higher trend. Institutional merchants seemed to obtain profits after the rapid previous period, underlining the fragility of the recent bullish impulse.
The Whipsesw session highlights the widest uncertainty that weighs in cryptocurrency markets. While XLM briefly challenged the psychological resistance of $ 0.40, its rapid rejection underlines continuous volatility in digital assets amid winds against macroeconomic. The operators will now observe whether $ 0.37 can be maintained as a lasting support zone, or if the breakdown indicates more weakness ahead.
Technical indicators show mixed signals
- The price rupture occurred to October 1, 08:00 with an exceptional volume of 56.77 million, considerably exceeding the average of 24 hours of 29.36 million.
- Robust volume support established at the level of $ 0.37 during the initial surge phase.
- The resistance turned into a validated validated support dynamics around $ 0.38 with sustained institutional accumulation.
- Pattern of higher minimums maintained throughout the upward path before the reversal of the final hour.
- The volume increased dramatically during the decline phases at 13:18, 13:44 and 13:49 with readings greater than 1.3 million.
- Zero volume registered at 14:09 that suggests full exhaustion of the market and potential consolidation ahead.
Discharge of responsibility: Parts of this article were generated with the assistance of artificial intelligence tools and reviewed by our editorial team to guarantee the precision and compliance with Our standards. For more information, see Coindesk’s complete policy.
