Support pressure at $0.0884: Can Plasma avoid deeper losses?

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Plasma drops 7.42% to $0.0935 today

Highlights

XPL/USD trades below key moving averages across intraday and daily charts, indicating persistent selling momentum at all timeframes.
Mixed momentum indicators show intraday buyer activity and overbought conditions, but trend strength remains weak and direction is indecisive.
Price is at $0.0935, down 7.42% intraday, with expected movement between $0.0884 to $0.0986 and a 56% probability of moving higher.

Momentum divergence amid elevated volatility and mid-range trade

On the technical front, XPL/USD is trading below the MA-20 and MA-50 on the H1 timeframe, and remains under the MA-200 on the daily chart. The Ichimoku Kijun at $0.0963 now serves as immediate resistance. Momentum signals are mixed: MACD and ADX are neutral, RSI and CCI show buy signals, and Bull/Bear Power supports intraday buyer dominance. However, Stochastic RSI points to overbought conditions, diverging from bullish momentum readings, while the Awesome Oscillator stays neutral. The spot price is mid-range with high volatility, which highlights an unsettled and indecisive market landscape.

Sideways price scenario as breakout risk remains elevated

Looking ahead to the next two to three trading days, the price is expected to range between $0.0884 and $0.0986. Current models indicate a higher probability of an upward move (56%) versus a downward move (44%). The baseline scenario projects sideways action between support and resistance; a bullish outcome would require a breakout above $0.0963, while a move below $0.0884 could quickly accelerate losses.

Viktoras Karapetjanc, expert at Traders Union, sees XPL as technically pressured in the short term but notes potential for a rebound. No major news is influencing the sentiment, so price action is likely driven by trading flows and technical factors. He believes the current setup favors cautious optimism, with buyers showing early signs of strength despite mixed momentum. "If XPL can push above $0.0963, a bullish scenario could unfold, but until then, I expect range-bound trading with upside bias."

Earlier, analysts noted that Plasma (XPL) was demonstrating strong upside momentum despite a mixed long-term trend. The current analysis signals a shift toward a more indecisive market landscape, with traders now advised to monitor for a clear break above immediate resistance at $0.0963 to confirm renewed bullish potential.

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.