Stellar’s XLM Holds Steady at $0.2975 as Weak Volume Caps Rebound Momentum
Stellar’s XLM hovered around $0.2975, up 2.12% with a notable V-shaped recovery, but still lagged behind the broader crypto market by 3.53%. Despite the slight upswing, trading volume dwindled to 21% below the 30-day average, suggesting weak momentum primarily driven by retail investors rather than institutional participation. Key support is established at $0.2950, with resistance tightly clustered between $0.3000 and $0.3050. For a meaningful breakout, stronger involvement from larger players is crucial. The price retreated from $0.3194 to $0.2952 before experiencing a recovery to $0.2980, indicating potential accumulation at the support level. Technical analysis shows a possible double-bottom formation, but any confirmation hinges on increased trading volume to validate this trend.
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