Here’s why Plasma is sliding (January 15)

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Plasma Slides 13.18% Today

Highlights

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Anton Kharitonov, expert at Traders Union, sees continued weakness in XPL, with the price persistently below major moving averages. He notes the lack of supportive news and technical signals that remain strongly bearish. Kharitonov is wary of the prevailing seller dominance and highlights that there is no convincing base for a recovery at current levels. He points out that even the oversold conditions do not guarantee a bounce. "Until XPL reclaims $0.1680, I view any upside as unsustainable and see more risk than opportunity for now."

Viktoras Karapetjanc, expert at Traders Union, acknowledges recent price pressure in XPL but remains constructive on its long-term prospects. He sees opportunity in the current oversold readings and narrow range, which can attract traders looking for reversals. Karapetjanc believes patience will be rewarded if buyers step in above $0.1680. "Despite the recent drop, the market offers multiple setups, and further growth can materialize once short-term hurdles are cleared."

Parshwa Turakhiya, analyst, highlights that sentiment remains subdued for XPL as it struggles to hold support. He observes that technical signals hint at potential exhaustion, suggesting traders might see short-term bounce opportunities. Turakhiya cautions that any upside could be fleeting while volatility remains high. "Active traders should watch for sharp moves between $0.1170 and $0.1680, but manage risk carefully given persistent downside momentum."

Downside momentum persists as technicals confirm seller strength

Momentum signals on the daily chart show a prevailing bearish bias for XPL. The price remains below the Ichimoku cloud, with dynamic resistance at $0.1680 and no clear long-term support from moving averages. MACD is neutral but points downward, ADX signals a weak but persistent trend, and both RSI (46.9) and Stochastic RSI (14.66) highlight oversold conditions. The CCI is in neutral to oversold territory, Bear/Bull Power confirms seller dominance, and the awesome oscillator is neutral, together suggesting strong intraday downside pressure despite signs of exhaustion.

Previously it was reported that XPL was trading above its short- and medium-term moving averages, highlighting a mildly supportive trend as the price hovered just above the MA-50 and well above the MA-20. Momentum remained conflicted, with MACD and ADX showing underlying bullish bias while short-term oscillators indicated strong selling pressure and the current price slipping 13.18% after a gap down amid limited intraday volatility near key support at the Ichimoku Kijun and resistance at the MA-50.

Source of Data: XPL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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