Technically, xpl Plasma token is in a bearish correction phase amid broader market weakness, trading below key moving averages: 7-day SMA ~$0.115, 30-day SMA ~$0.13, 50-day ~$0.14, and 200-day significantly higher from prior highs. Price has broken below recent pivot (~$0.105–$0.108) and approached the 78.6% Fibonacci retracement from earlier swings, confirming downside momentum after failing to hold above $0.11.RSI-14 hovers in oversold territory near 30–35 across timeframes, suggesting potential exhaustion and short-term reversal odds if volume supports. MACD remains negative with widening bearish histogram, indicating sustained seller control. 24h range shows lows near $0.09876–$0.099 (testing recent cycle lows/ATL zone) and highs around $0.106–$0.109, with elevated volume $75–$90M but net outflows reflecting distribution pressure.
Immediate support clusters at $0.099 (psychological/prior low), $0.098–$0.097 (deeper Fib extension and S1 pivot)—a decisive hold could ignite a relief bounce targeting resistance at $0.105–$0.107 (recent pivot/short-term EMA confluence). Break below risks extension to $0.09–$0.095. Oversold conditions + high liquidity/volume hint at rebound potential if BTC stabilizes, though trend stays bearish until reclaim above $0.11 (stronger Fib/7-day SMA). Plasma's focus on stablecoin-optimized L1 (zero-fee transfers, institutional security) offers long-term narrative strength, but short-term follows market bleed. Watch volume surge on upside for confirmation. DYOR—high volatility persists.
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