Alright, here’s what I’m seeing on XPL.
After that clean run-up last week, price has been fading in a steady downtrend, showing clear lower highs and weak reactions around the mid-range. The momentum flipped right after liquidity got taken near 0.42, and since then, every bounce has just been a retest to sell into.
Right now, we’re holding near 0.29, sitting in a small compression zone after that heavy drop. If bulls want a chance, they’ll need to reclaim 0.31–0.32 with conviction. Otherwise, this sideways drift is just building liquidity for another sweep lower.
Not much strength showing yet — just reaction candles, no follow-through. If this base breaks, 0.27–0.26 becomes the next clean liquidity pocket.
Keeping it simple: it’s still a sell-the-bounce structure unless something changes on momentum.
Watching for either a reclaim flip above 0.31 or another breakdown to trap late buyers.
