XLM Surges 7% Before Swift Reversal as Bulls Face Profit-Taking

XLM posted a volatile trading session over the past 24 hours, surging from $0.36 to $0.39 before giving back gains in a sharp intraday ￰0￱ move represented a 7% advance as volumes spiked to 56.77 million—nearly double the 24-hour average—suggesting heightened institutional ￰1￱ most notable breakout occurred at 08:00 UTC on Oct. 1, when price accelerated from $0.37 to $0.38 on exceptional buying pressure, establishing firm support at the $0.37 ￰2￱ carried through subsequent hours, with trading volumes exceeding 55 million during the 09:00 and 11:00 ￰3￱ consistent demand confirmed a shift in market structure, turning resistance near $0.38 into support while producing a string of higher lows that reinforced the bullish ￰4￱ often view this pattern as evidence of accumulation by larger players positioning ahead of key resistance ￰5￱ momentum, however, proved ￰6￱ the final hour of the session, XLM retraced from $0.39 to $0.37 as profit-taking set ￰7￱ sharp selloff at 13:41 UTC, which drove prices down by two cents in under 30 minutes, erased much of the earlier gains and created a lower low that disrupted the prevailing ￰8￱ traders appeared to lock in profits following the rapid run-up, underscoring the fragility of recent bullish ￰9￱ whipsaw session highlights the broader uncertainty weighing on cryptocurrency ￰10￱ XLM briefly challenged the $0.40 psychological resistance, its swift rejection underscores ongoing volatility across digital assets amid macroeconomic ￰11￱ will now be watching whether $0.37 can hold as a durable support zone—or if the breakdown signals further weakness ￰12￱ Indicators Show Mixed Signals Price breakout occurred at 1 October 08:00 with exceptional volume of 56.77 million, considerably exceeding the 24-hour average of 29.36 ￰13￱ volume support established at the $0.37 level during the initial surge phase.

Resistance-turned-support dynamics validated around $0.38 level with sustained institutional ￰14￱ lows pattern maintained throughout the upward trajectory before final hour ￰15￱ surged dramatically during decline phases at 13:18, 13:44, and 13:49 with readings exceeding 1.3 ￰16￱ volume recorded at 14:09 suggesting complete market exhaustion and potential consolidation ahead. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our ￰17￱ more information, see CoinDesk's full AI Policy .