Why is Plasma price down 10.5% today?

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Plasma slides 10.54% today to $0.0937

Highlights

Netcoins expanded its supported assets by adding Plasma after a completed know-your-product review.
The Plasma network is scheduled to unlock 1.76 billion tokens valued at $159.9 million on September 25, 2026 for early investors and ecosystem allocations.
XPL/USD trades near $0.0937 with positive momentum but shows overbought readings and consolidates between $0.0932 and $0.0948, forecasting a $0.0803 to $0.1071 range for the coming five sessions.

Netcoins listing and token unlocks reshape liquidity amid selling pressure

Netcoins added Plasma to its supported asset list, broadening its availability following a completed know-your-product review. The Plasma network is scheduled to unlock 1.76 billion tokens valued at about $159.9 million on September 25, 2026, mainly for early investors and ecosystem allocations. These events may impact liquidity and distribution, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees the steep 10.54% drop in Plasma (XPL) as a clear warning sign. He notes that improved access through Netcoins and anticipation of the 2026 unlock have failed to support price, indicating weak sentiment and dominance by sellers. The technical setup remains fragile — XPL is barely above key moving averages, and overbought momentum points to a likely pullback or sideways chop rather than recovery. He expresses concern about the looming $159.9 million unlock, which could worsen selling pressure and disrupt stability. Kharitonov states, "Broad selling pressure, combined with unlock-driven supply risk, makes XPL vulnerable to further downside in the near term."

Viktoras Karapetjanc, expert at Traders Union, emphasizes that fundamentals and sustained network expansion give XPL a strong growth foundation. He highlights the wider listing on Netcoins as positive for adoption and liquidity, while the 2026 token unlock bolsters ecosystem maturity. Karapetjanc believes the technical uptrend, with key averages holding, shows that bullish structure remains intact. He is confident the market offers multiple setups for buyers if XPL breaks $0.0948 resistance. "With bullish momentum and expanding ecosystem access, I expect further growth opportunities for XPL ahead," he asserts.

Parshwa Turakhiya, analyst, notes that XPL hovers at key support after a sharp selloff, with bulls and bears locked in a tight range. He points to positive signals from MACD, ADX, and RSI, but cautions that overbought readings and recent volatility could spark whipsaws. Turakhiya sees potential for short-term trading setups near the $0.0932-$0.0948 band as news of new listings adds some excitement. "Traders should watch for a clear break above $0.0948 to ride momentum, but be ready to hedge if sellers return," he advises.

Bullish momentum persists as price nears support and overbought levels

XPL/USD is trading above its 20-day, 50-day, and 200-day moving averages ($0.0885, $0.0849, and $0.0932 respectively), indicating bullish short- to long-term trends, but with the MA-50 and MA-200 still showing a slight bearish alignment over the extended period. The price is closely bracketed by a near-term ceiling at $0.0948 and a floor at $0.0932. Momentum indicators are positive: MACD and ADX support an upward direction, RSI stands at 60.36 with a buy condition, and Bull/Bear Power (BBP) at 0.0159 confirms intraday buying strength. However, both the Stochastic RSI and Commodity Channel Index (CCI) register overbought readings, signaling caution. The Awesome Oscillator (AO) reinforces prevailing strength, but renewed selling after an intraday downside gap has brought price near the session low and volatility measures remain heightened.

Earlier, analysts noted that Plasma faced heightened downside risks amid upcoming token unlocks and a concentration of supply among large holders. The present technical setup introduces a potential shift, as near-term bullish momentum competes with ongoing volatility, making the $0.0948 resistance and $0.0932 support the critical levels to monitor for a decisive breakout or further downside exposure.

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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