Markets
What to know:
- XLM played the dramatic diva and slipped 4% in just 23 hours, descending from a flirtatious $0.38 to a decidedly less glamorous $0.36, having made a rather pitiful bid at resistance at $0.38.
- Volumes at $0.36 looked like frantic fans trying to catch the show, but the relentless drama of lower highs and lows kept the audience firmly in the “bearish” camp.
- Attempted comebacks near $0.37 were snubbed unceremoniously – institutional sellers saying, “Not in my theatre, darling,” and opening the door for further tumbles.
Stellar’s XLM token has been striking all the wrong chords over a brief 23-hour operatic tragedy, from September 29th 15:00 to September 30th 14:00 – tumbling 4% from a hopeful $0.38 to a disgruntled $0.36. The whole performance took place in the cramped wings of a narrow $0.01 price range, making one wonder if all the action happened behind the velvet curtains. The token’s attempts to hit the high notes at $0.38 were met with nothing but jeers (and heavy volume sales of 38.6 million), a clear sign that the institutional critics were not impressed. Encore attempts at the same price with 18.6 million volume only confirmed the mood: bearish and thoroughly unimpressed. 💼🎭
For a brief intermission, support popped up at $0.37 and $0.36 – the latter doubling as the last desperate act with a clutch of buyers throwing themselves into the fray as volumes surged to 31.4 million. Yet, while it hinted at a chase for stability, the plot was hardly saved. The market was playing a villainous pattern of lower highs and lower lows, suggesting the bears still held the script firmly in their paws. That psychological barrier of $0.37? Smashed – like a fine antique vase in a brawl – and the scene was set for quite the downward spiral. 🎢😏
XLM’s curtain call was a pathetic flop at $0.37 in the final trading hour. Volumes briefly rose, as if to rally support, only to be coldly rejected – sealing the 4% drop with a final dramatic sigh and a bow. Bravo, dear institutional sellers, bravo. 👏
31, with 665,000 volume turning the stage upside down.
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2025-09-30 20:44