Plasma price prediction: Can $0.1144 resistance break on XPL rally?

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Plasma jumps 9.59% on new rewards

Highlights

Expanded flight rewards for Platinum card users have triggered a significant surge in demand for the XPL token.
The enhanced rewards structure increases the perceived value of XPL, attracting new users and incentivizing current holders.
XPL/USD trades below key moving averages but is supported by strong buy momentum, with expected trading range of $0.1008 to $0.1144 and low probability of downside.

Platinum card rewards upgrade triggers sharp XPL demand growth

The recent official announcement introducing enhanced flight rewards for Platinum card users has served as a direct catalyst for demand, as reported by Coinpedia. By increasing the benefits of holding and using the Platinum card, this move immediately raises the perceived value of the XPL token within its user base. The expanded rewards mechanism is likely to draw additional users and incentivize existing holders, providing a clear rationale for the current demand-driven surge in XPL.

Upward momentum confirmed as buy signals persist despite resistance

On the technical front, XPL/USD trades below the MA-20 and MA-200 moving average levels but remains above the MA-50, highlighting seller dominance in the short- and long-term while medium-term support is still intact. The Ichimoku Kijun provides immediate support at $0.1064. The Moving Average Convergence Divergence (MACD) signals strong buy momentum, corroborated by a positive reading from the Average Directional Index (ADX) and Bull/Bear Power, indicating intraday buyer control. The Relative Strength Index (RSI) stands in bullish territory at 59.53, while Stochastic RSI and Commodity Channel Index (CCI) are neutral, as is the Awesome Oscillator. This mix of indicators confirms momentum is skewed upward, though neutral oscillator signals suggest caution.

Bullish bias holds amid expected sideways trade and key support test

Over the next two to three trading days, XPL/USD is expected to range between $0.1008 and $0.1144, reflecting a volatility band relative to current levels. The likelihood of continued upside is assessed as very high, while the probability of downside movement remains low. The baseline outlook envisions the price oscillating in a sideways pattern; if XPL/USD breaks above near-term resistance, a bullish extension could unfold, whereas a decisive move below the $0.1064 support would shift the scenario to bearish in the short term.

Viktoras Karapetjanc, expert at Traders Union, sees the official rewards announcement as a clear catalyst driving fresh demand for XPL. He believes current sentiment and momentum signal further upside, especially as user incentives grow. The immediate technical picture points to robust buyer control despite some neutral oscillator signals. Karapetjanc expects XPL to hold above key support and potentially test the top of its current range. "Momentum is now reinforced by real product news, so I see any dips above $0.1064 as strong buying opportunities in the short term."

Earlier, analysts noted that Plasma was exhibiting short-term bullish momentum supported by sustained buying pressure, though longer-term resistance remained a concern. The recent surge in demand fueled by utility enhancements for Platinum card holders adds a new catalyst to this dynamic, and traders should closely monitor for follow-through above the $0.1144 level to confirm a continued bullish extension.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.