Stellar’s Grand Collapse: The Upgrade That Did Absolutely Nothing 😩📉

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Markets

  • XLM tumbled 2.72% in 24 hours, sliding from $0.368 to $0.358, as if gravity itself conspired against it. Resistance at $0.362 stood firm, mocking every attempt to rise like a stubborn bouncer at an exclusive club 🚪.
  • Macro headwinds and liquidations have turned Stellar into the financial equivalent of a wet paper bag. Even Protocol 23, heralded as the “savior,” couldn’t stop this downward spiral. One might think the upgrade was coded by moody poets rather than engineers 🧑‍💻💔.
  • The $0.32-$0.30 support zone now looms ominously-a final line of defense before complete chaos ensues. Will buyers rally? Or will they cower in fear like peasants fleeing a dragon’s wrath? 🐉
XLMXLM$0.3544◢2.46%

Over the past day, Stellar has behaved less like a star and more like a dying firefly. Between Sept. 3 at 15:00 and Sept. 4 at 14:00, XLM shed 2.72%, plunging from $0.368 to $0.358. It wobbled within a tight $0.012 range, proving that even cryptocurrencies can suffer existential crises 😅.

Sellers swatted away every hopeful surge toward $0.362, especially during the Sept. 4 session at 13:00. Meanwhile, the $0.357-$0.358 support zone is holding on for dear life, much like a climber clinging to a cliff edge with sweaty palms 🧗‍♂️.

Despite the fanfare surrounding Stellar’s Protocol 23 upgrade, which rolled out on Sept. 3, the market yawned audibly. Bulls were nowhere to be found, while bears celebrated with champagne flutes filled with tears of despair 🥂😭.

Institutional sentiment mirrors this gloom. On Sept. 2, liquidations worth $192,000 sent traders spiraling faster than a soap opera plot twist. This cascade of panic has left Stellar adrift in a sea of geopolitical uncertainty and monetary turbulence-hardly the heroic narrative we were promised 📉🌍.

Looking ahead, Stellar faces its ultimate test: the $0.32-$0.30 demand zone. If buyers don’t show up, prepare for fireworks-or rather, implosions. For now, technical indicators whisper ominous warnings, urging caution until broader sentiment decides whether to stabilize or collapse entirely 🔮.

Technical Indicators Paint a Bleak Picture

  • Price fell from $0.368 to $0.358-a 2.72% drop over 24 hours, because apparently, no one likes Stellar anymore 😢.
  • Trading range hit $0.012, showcasing volatility of 3.26%. Exciting? Hardly. More like watching paint dry but with numbers 🎨.
  • Resistance at $0.362 remains unyielding, rejecting every attempt to rise like a jealous ex blocking your calls 📵.
  • High volume of 21.47 million during the Sept. 4 13:00 session dwarfed the 24-hour average of 16.23 million, suggesting frenzied selling. Panic much? 😰
  • Support around $0.357-$0.358 looks about as sturdy as a house of cards in a hurricane 🃏.
  • Declines accelerated in the final trading hours, hinting at further carnage unless someone flips the “buy” switch soon ⚡.
  • Volume dropped from a peak of 28.5 million to 16.7 million, signaling weakening momentum-or perhaps exhaustion from all the drama 😴.

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2025-09-04 19:57