Saad Ullah
Stellar (XLM) jumped 4.3% in wild trading but got smacked down at key resistance levels. Despite a huge 112 million volume surge that screamed institutional activity, the rally couldn't stick.
XLM Price Gets Rejected Hard at $0.394 Despite Volume Explosion
Stellar had quite a day, bouncing between $0.379 and $0.396 in what can only be described as a proper rollercoaster ride. The action kicked off around midnight on September 11, with XLM climbing from $0.384 to hit $0.396 by mid-morning.
Here's where things got interesting: a massive 112 million unit volume spike hit at noon - way above normal levels and a dead giveaway that big players were moving. But despite all that firepower, XLM couldn't hold its gains and slipped back to $0.387. The $0.394–$0.396 zone proved to be an absolute brick wall, rejecting every attempt to break through.
What's telling is how buyers keep showing up around $0.379–$0.381, creating what looks like solid support. Meanwhile, sellers are having a field day unloading their bags every time XLM approaches that $0.394 ceiling.
Technical Breakdown Shows XLM Price Stuck in No Man's Land
Between 1:14 and 2:13 p.m., XLM got squeezed into an even tighter range - just $0.003 between $0.386 and $0.389. Two quick bullish bursts tried to punch through $0.389 on decent volume, but got shut down immediately. It's like watching someone repeatedly run into a glass door.
The pattern here is pretty clear: institutional money is definitely playing, but they're not all on the same side. You've got accumulation happening down low and distribution up high, creating this tug-of-war that's keeping XLM stuck.
What's Next for XLM Price?
XLM needs to flip $0.389 into support if bulls want any chance of a real breakout. Until that happens, we're probably looking at more sideways action between $0.379 and $0.394.
The 112.18 million volume surge tells us the big money is definitely watching, but whether they're buying the dip or selling the rip remains the million-dollar question. For now, XLM's fate hangs on whether it can finally crack that resistance or if we'll see another test of the $0.379 support floor.
Saad Ullah
