Stellar XLM Trading Volume Rises as Price Tries to Rebound Following Monthly Drop

Recent Trading Activity: Stellar XLM experienced a significant increase in trading volume, rising by 37% to $227.7 million, as it attempted to recover from a recent monthly decline of 13%. The token's price reached around $0.2537 after a 5.46% gain, although it remains below key resistance levels of $0.28 and $0.30.

Market Sentiment and Resistance Levels: Despite the recent uptick in trading volume and price, XLM continues to face challenges in breaking through established resistance levels. Traders are cautious, recalling previous short-lived rebounds, and are closely monitoring whether the current momentum can be sustained.

Potential Risks: If buying strength diminishes, XLM risks a return to support near $0.20, which is a critical area that has previously stabilized the market. The ongoing inability to clear resistance levels leaves the asset vulnerable to quick reversals.

Future Outlook: The next trading sessions will be crucial in determining whether the increased volume can lead to a sustained rally. Without stronger buying interest, the recent price increase may be temporary, as market participants seek clearer direction for XLM.