Stellar (XLM) reverses after institutional selling at $0.2815 resistance; price drops 2.2% with volume spike

XLM fell 2.2% from $0.2789 to $0.2727 after heavy selling at the $0.2815 resistance produced a false breakout on the 60‑minute chart. Trading volume spiked to 42.6M tokens (a 62% rise vs. the 24‑hour average) during the resistance test, coinciding with institutional selling and triggering a swift reversal. Support around $0.2709–$0.2720 (psychological $0.27) is holding for now, but collapsed session volume (18% of average) and consecutive lower highs increase downside risk absent a volume‑backed breakout above $0.2815.
AI Analysis
Price dropped 2.2% after heavy selling capped upside at $0.2815; volume spiked to 42.6M tokens (62% above the 24‑hour average) during the resistance test and a false breakout on the 60‑minute chart led to a swift reversal. Support sits near $0.2709–$0.2720 while session volume collapsed to 18% of average and lower highs suggest vulnerability without a volume‑backed breakout.