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

Stellar (XLM) experienced a 2.2% decline, dropping from $0.2789 to $0.2727 as it faced selling pressure at the $0.2815 resistance level. This movement underscores a bearish trend, supported by a significant increase in trading volume, which surged by 62% above average to 42.6 million tokens, indicating institutional selling activity. The failure to break through key resistance points continues to suggest a downtrend, with XLM forming a series of lower highs. Current support levels are established near $0.2709, which, if breached, may trigger additional losses. The previous attempts at recovery within the $0.2720 to $0.2755 range have not sustained, which highlights a diminishing buying interest as trading decisions reflect a distribution phase. Without further bullish catalysts, the potential for downward movement remains a concern for short-term traders.

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