Stellar’s XLM Slips 4% as Institutional Selling Weighs on Market

Stellar’s XLM token experienced a 4% decline, dropping from $0.38 to $0.36 over a 23-hour period. The decrease was attributed to significant institutional selling pressures, with heavy trading volumes indicating bearish sentiment. Resistance at $0.38 was tested multiple times, and attempts to recover above this level failed, confirming ongoing selling activity. Support levels were noted at $0.37 and $0.36, with the latter seeing some defensive buying towards the end of the trading session. Nonetheless, the overall market structure reflected lower highs and lows, signaling sustained selling pressure. The closing session recorded a failed recovery attempt at $0.37, solidifying the bearish outlook for XLM. Analysts remain cautious, indicating a risk of further downside movement as institutional investors reassess their positions amidst rising global trade tensions.

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