XLM Gains 4% on Strong Technical Indicators

Stellar’s XLM rose almost 4% over the past 24 hours, moving from $0.38 to $0.40, fueled by elevated trading volumes and repeated tests of the $0.40 resistance level, signaling strong institutional buying.

During the session from 17:00 UTC on September 17 to 16:00 UTC on September 18, XLM traded in a $0.02 corridor between $0.38 and $0.40. Early-session weakness was quickly recovered, with volume-driven gains around $0.39 at 19:00 and near $0.40 at 15:00. Transaction volumes of 40.04 million and 33.80 million exceeded the 24-hour average of 30.47 million, highlighting firm buy-side interest.

Repeated resistance tests at $0.40 established the level as a key battleground, while support consolidated below, indicating steady accumulation. The final trading hour saw XLM reach a session high of $0.40 at 15:36, supported by a surge in volume to 7.50 million — roughly 24 times the typical hourly average — reinforcing a breakout and sustained institutional participation.

Technical Highlights:

• Trading Range: $0.38–$0.40 (5% volatility)
• Volume: Significant spikes during key advances above 40M tokens
• Resistance & Support: $0.40 repeatedly tested, support consolidating below
• Momentum: High-volume breakout and consistent higher levels confirm bullish trend

XLM’s strong volume-driven rally and support at critical levels indicate continued bullish momentum and potential further upside beyond $0.40.

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