Stellar (XLM) Trades Sideways After a Volatile Start to the Session

XLM Faces Rejection Near $0.41 as Sellers Cap Stellar’s Upside Momentum

Stellar’s XLM token briefly extended gains on Oct. 3 before a wave of selling erased earlier advances, underscoring persistent resistance around the $0.41 mark despite broader ecosystem growth.

The token climbed to $0.4041 in afternoon trade but reversed sharply after 14:00 UTC, sliding back to $0.4015 as heavy sell orders hit the market. Trading volumes surged during the downturn, with over 1.4 million tokens exchanged in a single minute, pointing to likely institutional profit-taking near session highs.

The move coincided with Bitcoin.com Wallet’s integration of Stellar and its DeFi protocols, broadening XLM’s accessibility within global payments networks. While historical data suggests October often supports crypto upside, immediate sentiment remains tempered by overhead resistance and short-term technical weakness.

Technical Summary

Volume Dynamics: Early buying momentum gave way to strong selling pressure, peaking with over 1.4 million tokens traded between 14:00–14:01 UTC.
Resistance Levels: Persistent supply was noted around $0.41, where price advances repeatedly stalled.
Support Zone: Buying interest continues to emerge near $0.40, marking the lower boundary of the current consolidation channel.
Market Formation: XLM is oscillating in a narrow $0.40–$0.41 range, reflecting potential accumulation amid indecisive sentiment.
Trend Outlook: A bearish reversal pattern remains valid, signaling distribution by larger holders near intraday peaks.