XLM Falls 3.2% Amid Altcoin Sell-off, Holds at $0.248
Stellar’s native token XLM slipped 3.2% from $0.2577 to $0.2495 in a 24-hour period amid ongoing altcoin consolidation. Sudden volume surges—87% above average—pushed XLM to a resistance peak of $0.2558 before sellers regained control.
Technical indicators show XLM forming a base at $0.248, triggering a V-shaped recovery and reclaiming the $0.250 psychological level. Hourly volume spikes near one million tokens confirm buying interest at the $0.248 support level, suggesting range-bound action between $0.248 and $0.2577. Despite broad market weakness, XLM’s market cap holds near $8 billion, underlining steady demand for Stellar’s cross-border payments utility. Traders now watch the $0.248–$0.250 pivot zone for a potential breakout or further altcoin consolidation.
Neutral
The neutral categorization reflects a balance between bearish pressure from a 3.2% price drop and bullish signals from a technical bounce at the $0.248 support level. Volume spikes indicate renewed accumulation, yet the broader altcoin sell-off curbs upside momentum. Similar range-bound periods in XLM’s history have led to both breakouts and further consolidations, depending on market catalysts.
Short term, traders may see limited directional bias as XLM tests its pivot zone. Long term, a decisive move above $0.2558 could trigger bullish momentum, while a break below $0.248 would confirm bearish control. This mixed picture supports a neutral stance until a clear breakout or breakdown occurs.