Stellar’s XLM token plummeted by 6% in less than 24 hours due to aggressive institutional selling, with its price dropping from $0.43 to $0.41. This downturn was marked by significant trading volumes exceeding $30 million, indicating a notable level of market activity. The largest liquidations occurred overnight, where over 60 million tokens were sold, resulting in a strong resistance level at $0.42 and support established around $0.41. Despite several attempts to recover, XLM consistently failed to surpass the resistance point, reflecting ongoing bearish sentiment among institutional investors. In the final trading hour of August 18, XLM experienced an additional 1% decline, underscoring the persistent selling pressure. Limited buying interest was observed, indicating a vulnerability to further declines if selling continues.

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