Stellar’s Momentum Cools as the Token Consolidates Post-Volatility
XLM Retraces After Brief Rally as $0.41 Resistance Holds
Stellar’s XLM token climbed briefly on Oct. 3 but faced strong selling pressure near $0.41, erasing earlier gains and highlighting persistent overhead resistance.
The token peaked at $0.4041 during afternoon trading before dropping back to $0.4015 after 14:00 UTC, as heightened activity — over 1.4 million tokens traded in a single minute — indicated likely institutional selling.
The movement coincided with Bitcoin.com Wallet’s integration of Stellar and its DeFi protocols, expanding XLM’s reach within the crypto payments ecosystem. While October historically favors crypto markets, short-term momentum remains limited by technical barriers.
Technical Snapshot
- Volume: Early gains saw moderate buying, but the reversal was marked by a spike of over 1.4 million tokens traded in a single minute.
- Resistance: Selling pressure solidified near $0.41, capping upside attempts.
- Support: Buyers defended the $0.40 level, providing short-term stability.
- Consolidation: XLM remains range-bound between $0.40 and $0.41, suggesting potential accumulation.
- Trend Outlook: The token shows a bearish reversal pattern, signaling distribution by institutional players near session highs.
Share this content:
