XLM Tumbles Below Key $0.285 Support as Bears Take Over

Stellar (XLM) has fallen below the critical support level of $0.285, reaching a low of $0.281 amid intensified selling pressure. The drop marks a significant shift in momentum as XLM declined from $0.289 to $0.281 within a short time frame, spurred by a spike in trading volume to 76.24 million tokens on heightened institutional activity. This sell-off occurred after a failed attempt to breach the $0.290 resistance. Overall, trading within a range of $0.281 to $0.294 showcases a volatility of 6.7%, reflecting increased uncertainty among traders. The price action indicates a bearish trend characterized by lower highs and lower lows, confirming the shift toward bearish momentum. The immediate downside target is set between $0.278 and $0.280, while the prior support of $0.285 now acts as resistance for any potential recovery attempts. A substantial volume confirmation above 2 million tokens is necessary for sustained directional moves.

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