Plasma $XPL : Bloodbath Continues - When Will the Bleeding Stop?
XPL/USDT Analysis Summary & Strategy
Current Situation:
· Price: 0.2579 USDT (-18.18%)
· Trading near 24h low: 0.2512
· Broken below Lower Bollinger Band: 0.2331
Why Price is Down:
1. Technical Breakdown - Price crashed through critical Bollinger Band support
2. Bearish Indicators - RSI at 35.16 shows sustained selling; MACD negative
3. High Volume Selling - 373M XPL volume confirms strong selling pressure
Recovery Timeline & Signals:
· Quick Bounce: Possible if RSI drops below 30 (oversold) with price rejection at 0.2331-0.2512 zone.
· Sustained Recovery: Requires:
· Price reclaiming Lower Bollinger Band (0.2331)
· MACD bullish crossover
· Break above Middle Bollinger Band (0.3400)
Trading Strategy:
· SHORT: Risky at current levels - only with tight stop above 0.2650
· LONG (Recommended):
· Entry: $0.2331-$0.2512 (wait for bullish confirmation)
· Stop-Loss: Below $0.2300
· Targets: $0.3400 (TP1), $0.4470 (TP2)
Risk Warning: High volatility asset - use strict risk management.