Buyers defend key support as XLM rebounds after volatile session
Stellar (XLM) fell by nearly 5% in a volatile trading session before mounting a sharp recovery, trading at $0.3613 with a daily gain of 1.09%. The selloff briefly pushed the token into a critical demand zone, where buyers quickly stepped in to defend support.
The daily chart shows XLM dipping into the green support area between $0.3500 and $0.3600, a level that previously acted as resistance earlier this year. Market participants appear to be treating this zone as a strong accumulation region.
“The $0.35–$0.36 range has become a critical battleground. If Stellar can sustain above this level, the recovery could extend back toward $0.40 and $0.43 in the short term,” According to BITX technical analyst.
The immediate resistance sits around $0.4300, followed by a heavier supply zone near $0.4700, which capped the last rally in August. On the downside, a break below $0.3500 could open the door to deeper losses toward $0.30, erasing much of the July rally.
The sharp intraday rebound suggests that buyers remain active despite the volatility. Traders view the recent dip as part of a broader consolidation phase after Stellar’s summer breakout.
XLM’s ability to recover swiftly from a steep drop highlights resilient demand around $0.35–$0.36. While risks remain if support fails, the current structure suggests potential for a rebound toward $0.43–$0.47 if buying momentum continues.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.