Stellar (XLM) Price Faces Pressure After Resistance Rejection

Stellar (XLM) is experiencing a price pullback after encountering resistance near $0.2815. The token traded as low as $0.2727 before reversing, signaling a shift in market sentiment to bearish territory. Notably, trading volume spiked sharply at the point of rejection, suggesting forceful selling pressure from institutional investors or large players. While immediate support is located around $0.2709-$0.2720, a breach below could open doors for further downside risk. The technical indicators highlight a bearish setup. Resistance remains near $0.2815, while key support stands at around $0.2709-$0.2720. A sustained break above this level would be required to signal a potential shift in the market outlook.