XLM experienced a 3% decline as intensified selling pressure drove its price below the key $0.39 support level. During the final trading hour, the token's price dropped from $0.40 to $0.39, indicating sustained bearish momentum, while trading volume surged to over 45 million, suggesting institutional involvement in the sell-off. Despite the positive news of Stellar Development Foundation investing in Archax to foster ecosystem growth, broader market conditions seemed to impact performance negatively. XLM's volatility increased amidst this selling pressure, failing to establish support above critical levels. Technical indicators reflect ongoing bearish conditions as the price forms lower peaks, and a notable drop in trading volume hints at potential capitulation among market participants. As Bitcoin also struggles to maintain its levels, XLM remains vulnerable to further downside risks amid the current turbulent crypto market environment.

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