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

Stellar (XLM) experienced a decline of 2.2% from $0.2789 to $0.2727, facing strong selling pressure at the $0.2815 resistance level. The trading volume surged to 42.6 million tokens at this resistance zone, marking a 62% increase above the 24-hour average, indicating significant institutional selling. This retreat reaffirmed the prevailing bearish trend, reflected by a series of lower highs. Support is noted near $0.2709, with the psychological level of $0.27 acting as a temporary floor. If XLM falls below $0.2709, further declines could follow. A brief upward movement between $0.2720 and $0.2755 was quickly reversed, confirming a false breakout and the broader downtrend. Volume analysis suggested diminished buying interest toward session close, further emphasizing the need for a volume-backed breakout above the resistance to shift momentum. Failure to surpass $0.2815 may keep Stellar under bearish influence in the short-term.

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