Altcoin News: Stellar (XLM) rose 4.3%, but faces repeated resistance at $0.396

Key Points XLM soared 4.3% in 24 hours, fluctuating between $0.379 and $0.396. The midday trading volume reached 112 million [surge], indicating active institutional activity, but the momentum was weakened. Strong support was between $0.379 and $0.381, while strong resistance limits gains between $0.394 and $0.396. XLM price fluctuates in bulk trading On September 11, Stellar's XLM token experienced a significant intraday volatility, climbing to $0.396 at one point before falling back to $0.387. The move marks XLM's volatility by 4.3% in the narrow range of $0.017, highlighting its volatility. Overnight, the upsurge gradually grew as buyers pushed XLM from $0.384 to $0.396, but repeatedly lost at that price, showing huge circulation pressure. The surge in institutional trading volume has faded. The highlight of the day came at noon, with XLM trading volume reaching 112 million units - far higher than the average daily trading volume. Analysts see this as a sign of institutional participation. However, inflows failed to maintain momentum and prices quickly fell, consolidating the key resistance zone position between $0.394 and $0.396. On the downside, buyers continue to step in around $0.379 to $0.381, establishing a solid accumulation foundation that can lay the foundation for future higher. The short-term technical side was between 1:14 and 2:13 pm, and XLM consolidated in the range of $0.386 to $0.389, showing market hesitation. Both briefly soared to $0.389 were quickly retrenched, cementing the level’s position as a short-term upper limit, consistent with the broader 24-hour trend. Support: $0.379-0.381; resistance: $0.389 (short term) and $0.394-0.396 (main); volume: The surge in volume: 112 million highlights the interest of large funds, but follow-up is weakening. The battle between support and resistance levels. For traders, the next key test is whether XLM can convert $0.389 into support. A successful breakout could pave the way for a return to the $0.396 resistance level, while a take-back could test the $0.379-0.381 support level again. Until then, XLM will still maintain range volatility, with volatility providing opportunities, but resistance levels limiting its upside space.