XLM News: Token Slips 0.2% to $0.2944 as Traders Exhibit Uncertainty

Stellar's XLM token traded within a tight range of $0.2810 to $0.2950 following a significant volume surge that broke key support earlier in the session. On November 12, XLM decreased from $0.2949 to $0.2944, marking a modest 5% trading range, which suggests uncertainty among traders. A notable sell-off on November 11 led to a volume spike of 36.08 million tokens, exceeding the 24-hour average by 47%. This pushed XLM down to lows near $0.2810 before buyers intervened. With limited Stellar-specific events influencing the market, traders are focusing on technical levels, particularly a recent bullish reversal reclaiming the $0.2950 resistance level. Key support is now established at $0.2810, which needs to hold to sustain upward movement targeting the $0.2960–$0.2970 cluster.

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