Plasma slides lower as downward price move reflects strong selling pressure

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Plasma drops 7.29% today to $0.0693

Highlights

Plasma (XPL) fell sharply on November 1, 2026, with a 7.29% daily loss and trading volume more than doubled its 30-day average.
The surge in transaction volume during the price drop signals intensified selling pressure and increased risk aversion in the short term.
XPL trades below major moving averages with most momentum signals negative, projecting a likely range of $0.065 to $0.0736 and a very high probability of further downside.

Selling momentum intensifies as volume spikes amid forced liquidation

On November 1, 2026, Plasma (XPL) experienced a sharp decline, with daily trading volume more than doubling the 30-day average, according to Diariobitcoin. Elevated transaction activity amid the selloff points to heightened supply-side pressure and a possible acceleration of forced selling, as participants reacted to rapid moves and market volatility. This surge in volume during a pronounced drop underscores the intensifying selling momentum and growing risk aversion in the immediate term.

Sustained bearish dominance as indicators and resistance levels align

On the technical front, XPL/USD is trading below the MA-20 and MA-50 on the hourly chart, as well as under the MA-200 on the daily timeframe, with the Ichimoku Kijun line situated at $0.0728 now representing immediate resistance. MACD signals a strong sell, while ADX confirms clear selling pressure. RSI continues to reflect selling territory, and both CCI and Bull/Bear Power indicate that sellers are dominating. Stoch RSI and Awesome Oscillator readings are currently neutral, showing limited evidence of a reversal at this stage.

Downside bias strengthens as breakout levels define risk scenarios

Looking ahead, the projected range for XPL/USD over the next two to three trading days is $0.065 to $0.0736. The probability of an upward move is assessed as very low, while continued downside appears highly likely. The base scenario is for sideways consolidation, but a decisive move above $0.0728 would open the door for a bullish turnaround, whereas a drop below $0.065 could accelerate losses within the current volatility band.

Viktoras Karapetjanc, expert at Traders Union, notes that the recent drop in Plasma (XPL) comes amid a sharp surge in trading volume, reflecting strong supply-side pressure and risk aversion. He sees this as a sentiment-driven move, with fear accelerating selling momentum, although fundamental and macro shifts are limited for now. Karapetjanc believes any upside is likely capped until price decisively reclaims $0.0728. "I remain constructive overall, but until the $0.0728 resistance breaks, short-term sentiment will continue to weigh on XPL."

Earlier, analysts noted that Plasma was grappling with persistent downside risk and weak technical momentum following a surge in liquidations and volatility. The current session reinforces this bearish outlook, with intensified selling and elevated volume highlighting $0.065 as a critical level traders should monitor for potential acceleration of losses.

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.