Stellar’s performance was subdued in the Tuesday session ending November 12 at 14:00 UTC, with XLM falling from $0.2949 to $0.2944 as traders settled into a tight consolidation range.
The token’s modest $0.0148 move (around 5% of total activity) highlighted uncertainty among market participants, suggesting a lack of directional conviction.
A wave of heavy selling occurred late on November 11, with volume rising to 36.08 million tokens (47% above the 24-hour average), forcing a break below key support at $0.2845. The sell-off pushed XLM to lows near $0.2810 before buyers stepped in to stabilize prices.
With few Stellar-specific catalysts in play, traders are focusing on technical levels. The accumulation near the $0.2949 area and increasing volume suggest that institutional players may be positioning for a move towards the next resistance group between $0.2960 and $0.2970. The key question is whether the base around $0.2810 can hold firm to support sustained bullish momentum.
Key technical levels indicate mixed outlook for XLM
Support/Resistance:
- The primary bottom was established at $0.2810 after a volume-driven breakout.
- The key resistance at $0.2950 rebounded in the latest 60-minute breakout pattern.
- The next bullish target zone is located in the USD 0.2960-USD 0.2970 group.
Volume analysis:
- The huge volume increase of 36.08 million (47% above the SMA) marked a failure of support.
- The increase in volume during the retest of $0.2949 indicates an institutional accumulation phase.
- Normalized activity in the last few hours confirms the completion of the consolidation.
Chart Patterns:
- The initial descending trend line from the session high created a bearish setup.
- The narrow range of $0.2810-$0.2950 suggests a base building structure.
- The sequence of higher highs and higher lows emerges over a 60-minute time period.
Objectives and risk/reward:
- Immediate bullish target: $0.2960-$0.2970 resistance zone.
- Defense of critical support: base formation low of $0.2810.
- Risk/reward tilts bullish above the breakout trigger at $0.2917.
Disclaimer
Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
