XLM is consolidating in a tight range after early volatility.

Stellar’s XLM token sharply reversed after testing new highs on October 3rd. During midday trading, the price rose to $0.4041. However, due to intense selling pressure that came after 14:00 UTC, it lost value and fell back to $0.4015, erasing previous gains.

During the sales fluctuation, the trading of 1.4 million tokens in one minute indicates that the resistance at $0.41 has been confirmed and poses a risk for possible further downward movement. These sales came alongside the integration of Bitcoin.com Wallet with Stellar and DeFi protocols, expanding XLM’s payment accessibility.

Seasonal trends have the potential to provide support in the cryptocurrency markets. Historically, October has been a strong period for crypto prices, but short-term pressures continue. Technical analysis reveals increased activity during the initial rise. The exceptional sales volume exceeding 1.4 million during the 14:00-14:01 time frame is noteworthy.

Resistance levels formed in the $0.41 range, where the price repeatedly faced selling pressure. Support levels were established around $0.40, where significant buying interest occurred multiple times. A consolidation appearance developed between $0.40 and $0.40, signaling a potential accumulation. Additionally, a bearish reversal pattern has been confirmed due to institutional distribution at session peaks.