XLM's Wild Ride: From $0.35 to $0.25 and Back

Stellar (XLM) has experienced significant volatility over the past week, fluctuating between $0.35 and $0.25. After a robust rejection at $0.35, XLM entered a downtrend, breaking key support levels before finally discovering buyers at $0.25. XLM has started showing bullish momentum, breaking past resistance levels and forming an uptrend.

Analyzing XLM's price action from February 23 to March 1, we observe a series of price fluctuations and trend changes. On February 23, XLM's highest price was $0.35, with a solid resistance. The price action started declining, forming a pullback to $0.33 by 15:30 UTC. Rebound attempts were unsuccessful as selling pressure increased, initiating a downtrend. XLM fell to $0.31 by February 24 at 10:20 UTC, and a feeble effort to bounce back to $0.32 by 13:45 UTC was repelled at the resistance level. By 21:00 UTC, the price fell below $0.30, which showed further downward pressure.

On February 25, XLM was in a descending channel, and the price dropped to $0.28. Multiple break-out attempts were unsuccessful, with the sellers firmly in control. At 17:30 UTC, XLM dropped below $0.27, reinforcing bear strength. By February 26 at 07:00 UTC, XLM found temporary support at $0.26. Another rejection followed a short but failed move back to $0.28 by 12:45 UTC, and the price became range-bound.

On February 27, XLM attempted a breakout to $0.29 before it was firmly resisted. A rejection reversed the price to $0.27 by 16:20 UTC. The market steadied somewhat, but the overall bearish trend was still present. By February 28 at 05:50 UTC, XLM declined below $0.27, going as low as $0.25 by 11:00 UTC. Buyers came in at this critical support level, though, sending the XLM price action over $0.2