Stellar Slips as Key Support Breaks, Signaling Mounting Bearish Momentum

Stellar’s price weakened on Nov. 17, slipping 1.2% over 24 hours as volatility and volume surged. XLM fell from $0.2580 to $0.2548 while carving out a choppy consolidation range of 3.3%.

The session’s tone shifted notably after a sharp rejection from resistance near $0.2607, confirming a breakdown from the prior uptrend and signaling deteriorating momentum.

The most decisive move came around 13:00 UTC, when a 30.4 million XLM volume spike—well above the daily average—drove XLM below its ascending trendline from $0.2521.

Subsequent 60-minute action showed accelerating bearish pressure, with heavy selling pushing the token from $0.2586 down to $0.2535. The breach of key support at $0.2527 and new session lows around $0.2531 have opened the door to a possible retest of the psychological $0.2500 zone.

Support/Resistance: Primary support tests at $0.2527 before breakdown, with $0.2500 psychological level as next target; resistance establishes at $0.2607 with session high rejection at $0.2617.

Volume Analysis: Massive spike to 30.4M during breakdown represents 78% increase above 24-hour average, confirming institutional selling pressure at critical levels.

Chart Patterns: Ascending trendline from $0.2521 breaks decisively, volatile consolidation pattern with 3.3% range suggests continued uncertainty in near-term direction.

Targets & Risk/Reward: Immediate downside target at $0.2500 represents 1.9% decline from breakdown level, while recovery above $0.2580 needs to occur to negate bearish structure.

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