Stellar Lumens (XLM) extended its recent rally over the past 24 hours, climbing 3% as buyers absorbed heightened selling pressure and pushed the token into new resistance levels. Between Sept. 1 at 15:00 UTC and Sept. 2 at 14:00 UTC, XLM advanced from $0.36 to $0.36, with volatility of 5% highlighting active participation.
The asset found support at $0.35 following a brief wave of selling before consolidating in the $0.36 range. Resistance emerged around $0.37, where the market saw two rejection points, though trading volumes above the daily average of 31.2 million tokens indicated sustained institutional interest.
The bullish structure continued into the final hour of the session, when XLM gained 2% from $0.36 to $0.37. The move was supported by a volume spike of 2.7 million units at 14:00 UTC, allowing the token to briefly pierce the $0.37 ceiling before stabilizing above $0.36. This breakout reinforced the 24-hour trend and suggested buyers are laying the groundwork for further upside if volume momentum persists.
Meanwhile, leading South Korean exchanges Bithumb and Upbit announced they will suspend XLM deposits and withdrawals beginning Sept. 3 at 09:00 UTC. This measure is in preparation for Stellar’s Protocol 23 upgrade, aimed at modernizing network infrastructure and enhancing interoperability.
Protocol 23 is seen as a step toward expanding Stellar’s utility for real-world assets, of which approximately $460 million are already circulating on the network. The synchronization of price gains with network upgrades emphasizes a growing narrative of enterprise adoption.
RialCenter’s technical analysis model indicates that the consolidation above $0.36, combined with systematic accumulation around key support levels, suggests ongoing institutional positioning that could pave the way for a sustained move beyond $0.37.
Market Analysis Reveals Strengthening Corporate Interest
- Price established fundamental support at $0.35 during heightened selling pressure on September 1, 21:00.
- Robust accumulation activity developed between $0.36-$0.36 following decisive market recovery.
- Resistance parameters identified at $0.37-$0.37 where price encountered dual rejection events.
- Trading volume increases above 24-hour average of 31.20 million validated institutional market participation.
- Asset maintaining consolidation within ascending price channel formation.
- Breakout potential above $0.37 resistance dependent upon sustained volume validation.
- Trading momentum accelerated during 13:35-13:46 session with decisive upward movement.
- Enhanced support structure established around $0.36-$0.36 price levels.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see RialCenter’s full AI Policy.
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