Stellar Drops 2.2% to $0.2727 as Key Resistance Rejects Rally

Stellar (XLM) experienced a decline of 2.2%, dropping from $0.2789 to $0.2727 as selling pressure mounted at the $0.2815 resistance level. This marked the latest formation of lower highs, reinforcing a short-term downtrend. Trading volume surged to 42.6 million tokens at the resistance, indicating significant institutional selling that rejected further price increases. Traders are now watching the key support level at $0.2709, which, if breached, could lead to more downside movement. Despite a brief recovery attempt within the session, the resistance proved strong, and overall volume decreased significantly, suggesting dwindling buying interest. Without a catalyst for a breakout above $0.2815, XLM remains susceptible to further declines, with traders eyeing the psychological support level at $0.27.

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