Stellar’s The sell-off intensified after the token broke the key support of $0.34 during early trading on October 14, triggering a sharp sell-off and taking prices to a new local low of $0.32.
The sharp drop showed clear signs of capitulation, with high-volume sales hinting at possible oversold conditions. XLM briefly rallied in the final hour of trading, rising 0.4% from $0.32 to $0.33, as institutional buyers appeared to accumulate at discounted levels.
Trading activity froze after 2:05 p.m., suggesting market consolidation near the $0.33 resistance zone. The volatility underscores broader uncertainty in the cryptocurrency market, with Bitcoin dominance stable near 58%. Despite the turmoil, some analysts remain long-term bullish and forecast a possible rally towards $1.44 by the end of 2025 based on Elliott Wave patterns.
Technical signals: stress in the market
- XLM breaks the critical support of $0.34 during the 04:00 session on October 14 with a volume of 48.03 million surpassing the 24-hour average.
- The capitulation sale emerges to a low of $0.32 as volume increases to 63.10 million tokens during the 13:00 session on October 14.
- Exceptional volatility registers a 2% intraday range with strong reversal patterns indicating possible oversold conditions.
- Institutional accumulation signals flash during the 13:46 to 13:47 sessions with an extraordinary token volume of 2.67 to 3.68 million.
- Trading activity ceases completely from 2:05 p.m. and zero volume indicates the market consolidation phase.
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