Stellar’s Token XLM fell along with the largest market in the last 24 hours, with large volumes that occur in the turn of the day. The decrease occurred even when Rain, the Global Cards issuance platform promoted by Stablecoins, announced Thursday’s support for Stellar along with the integration with Solana and Tron.
XLM has collapsed 7% for 24 hours, falling from 0.288 to 0.271, with an exceptionally high sales volume. The cryptocurrency left a line of trend, marking the recovery of the minimum of April, imitating a pattern seen in the cryptocurrency focused on XRP payments.
Even so, despite the fall in prices, the integration of Stellar with Rain offers a rare bright point in a market feeling otherwise. Integration is a significant step towards conventional adoption, which allows users to spend stablcoins maintained in these high performance networks for daily purchases.
Technical analysis
- XLM-UDD experienced a significant decrease of 7% for 24 hours, falling from 0.288 to 0.271.
- An exceptionally high sales volume of 76.9m occurred at midnight (00:00), establishing a strong resistance to 0.280.
- The support emerged around 0.270-0.271, with a substantial purchase volume (74.7m) during the 01:00 hours.
- The price formed a critical support zone at 0.270-0.271 that was tested several times with high volume.
- A temporary recovery began at 09:43, forming an ascending channel pattern before the sales pressure was returned.
- The final time showed a volatile trade, with prices that fell to 0.270 before recovering slightly at 0.273, then returning to 0.271 in high volume (2.24m).
