Stellar price weakened on November 17, falling 1.2% in 24 hours as volatility and volume increased. XLM fell from $0.2580 to $0.2548, while creating a choppy 3.3% consolidation range.
The tone of the session changed noticeably after a strong rejection of the resistance near $0.2607, confirming a break of the previous uptrend and signaling a deterioration in momentum.
The most decisive move came around 13:00 UTC, when a volume surge of 30.4 million XLM, well above the daily average, pushed XLM below its ascending trend line from $0.2521.
The subsequent 60-minute action showed accelerating bearish pressure, with heavy selling pushing the token from $0.2586 to $0.2535. The break of key support at $0.2527 and new session lows around $0.2531 have opened the door to a possible retest of the $0.2500 psychological zone.
Key technical levels indicate bearish momentum for XLM
Support/Resistance: Primary support is tested at $0.2527 before the breakout, with the psychological level of $0.2500 as the next target; resistance is set at $0.2607 with a session high rejection at $0.2617.
Volume analysis: The massive rise to 30.4 million during the breakout represents a 78% increase above the 24-hour average, confirming institutional selling pressure at critical levels.
Chart Patterns: The ascending trend line from $0.2521 is decisively broken, the volatile consolidation pattern with 3.3% range suggests continued uncertainty in the near-term direction.
Objectives and risk/reward: The immediate bearish target at $0.2500 represents a 1.9% drop from the breakout level, while a recovery above $0.2580 is necessary to negate the bearish structure.
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