Stellar’s Token XLM was under a strong institutional sales pressure between August 17 at 3:00 pm and August 18 at 2:00 pm, sliding from $ 0.43 to $ 0.41 in a 6%decrease.
Volume trade during the 24 -hour period exceeded $ 30 million, which represents approximately 7% of the daily turnover.
The most notable liquidation event occurred between 1:00 am and 3:00 am on August 18, when institutional sellers downloaded more than 60 million tokens. This sale of XLM sale fell from $ 0.42 to $ 0.41, creating strong resistance at the level of $ 0.42 and defining a new support about $ 0.41.
Despite the recovery attempts, the asset failed to violate the resistance zone, pointing out the persistent institutional support and leaving XLM vulnerable to a greater inconvenience.
The final negotiation time of August 18 added new pressure, since XLM recorded a 1% drop between 1:21 pm and 2:20 pm the accelerated institutional sale between 1:31 pm and 1:42 pm, with corporate settlements that push the prices of $ 0.41 to $ 0.41 in volumes greater than 2.7 million units.
This activity burst confirmed the resistance to $ 0.41 and established a short -term support floor at the same level. Multiple recovery attempts throughout the hour were found with a renewed sales pressure, which culminated in a stagnant closure of around $ 0.41 with a minimum volume in the last 20 minutes.
The lack of purchase interest highlights the possibility of greater weakness if sellers recover the impulse.
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