Stellar’s XLM surged nearly 4% over the past 24 hours, rising from $0.38 to $0.40 amid elevated trading volumes and repeated tests of the $0.40 resistance level, signaling robust institutional buying momentum.

During the session from 17:00 UTC on September 17 to 16:00 UTC on September 18, XLM traded within a tight $0.02 corridor between $0.38 and $0.40. The token recovered sharply after early weakness, with volume-driven advances around $0.39 at 19:00 and near $0.40 at 15:00. Transaction volumes of 40.04 million and 33.80 million exceeded the 24-hour average of 30.47 million, highlighting strong buy-side activity.

Repeated testing of the $0.40 resistance zone underscored its importance, while support consolidated just below, suggesting steady accumulation. The final hour of trading saw XLM hit a session high of $0.40 at 15:36, supported by a surge in volume to 7.50 million—roughly 24 times the typical hourly level—confirming the breakout and institutional participation.

Technical Highlights:

• Trading Range: $0.38–$0.40, representing 5% volatility.
• Volume Spikes: 40.04M and 33.80M during key advances, surpassing 30.47M average.
• Resistance: $0.40 repeatedly tested, indicating strong institutional engagement.
• Support: Consolidated below $0.40, demonstrating steady accumulation.
• Momentum: High-volume final hour reinforced breakout, with buyers defending key resistance.

XLM’s price action and volume patterns indicate sustained bullish momentum and suggest potential for continued gains beyond the $0.40 level.