Plasma drops amid weak momentum

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Plasma drops 7% to $0.0802 today

Highlights

XPL/USD remains under strong bearish pressure, trading below key moving averages across all timeframes.
Momentum and trend indicators confirm persistent seller control, with no evidence of extreme oversold conditions developing.
Price is expected to consolidate in the $0.0756 to $0.0826 range over the next three days, with high risk of further downside if support breaks.

Bearish momentum confirmed as XPL breaches multiple support levels

XPL/USD is trading below its MA-20 at $0.0824 and MA-50 at $0.0855 on the hourly chart, with the price also decisively beneath the long-term MA-200 at $0.0926. The Ichimoku Kijun is set at $0.0821, serving as immediate resistance for any attempted rebounds. On the momentum side, MACD is indicating a strong sell, backed by ADX reinforcing the sell-side bias. RSI sits at 41.38 in the sell zone, while Stochastic RSI and CCI both register neutral readings, pointing to the absence of extreme oversold conditions. Bull/Bear Power shows intraday seller dominance, and the Awesome Oscillator aligns with the prevailing trend.

Downtrend risk persists as consolidation depends on Kijun break

For the next 2 to 3 trading days, the expected price range for XPL/USD is $0.0756 to $0.0826, reflecting typical volatility against current levels. The probability of an upward move is very low, while the likelihood of continued downside remains high. The baseline scenario favors price consolidating within the forecasted range; a bullish outcome would require a clear break above the Ichimoku Kijun resistance. If support at $0.0756 fails, downside risk could accelerate further.

Anton Kharitonov, analyst at Traders Union, notes that XPL is showing persistent weakness, with the price entrenched below all key moving averages and no supportive news on record. He sees technical momentum and sentiment both turning negative, with resistance levels and momentum indicators reinforcing the downside. The consolidation range remains capped unless there is a decisive break above the Ichimoku Kijun resistance. "Unless XPL/USD reclaims $0.0821, I expect further selling to dominate in the short term."

Earlier, analysts noted that Plasma was entrenched in a persistent bearish trend with limited prospects for an immediate recovery. The current analysis corroborates this outlook, highlighting continued seller dominance and signaling that traders should monitor the $0.0756 support as a critical threshold for potential accelerated downside.

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.