SULTAN3595

On the 1-hour chart, XPL has experienced a sharp decline of about 87% from its previous high to the recent low. After this steep sell-off, the price has entered a consolidation phase, moving inside a short-term ascending channel that indicates temporary stabilization.

Current Situation
The price is trading around 0.30 USD, slightly above the psychological support at 0.29 USD.
The 50-hour SMA is also near this zone, providing dynamic support.
The first resistance area lies between 0.35 and 0.38 USD.

This structure shows a balance between buyers and sellers — a typical setup following a heavy downward move.

Short-Term Outlook (1–3 Days)
The price is currently moving within a short-term ascending channel.
If it breaks above the channel resistance near 0.34 USD, it could trigger a corrective rally toward higher levels.
Conversely, a breakdown below the channel support may lead to another downward leg.

Bullish Scenario (short-term):
Entry: After a confirmed breakout above 0.34 USD
Target: 0.40 → 0.45 USD
Stop Loss: Below 0.30 USD

Bearish Scenario (short-term):
If the 0.29 USD support breaks down
Target: 0.25 → 0.20 USD
Stop Loss: Above 0.33 USD

Mid-Term Outlook (1–3 Weeks)
For a more sustainable recovery, XPL needs to reclaim and hold above the 0.45 USD resistance.
If that happens, the next upside targets could be 0.55 to 0.60 USD.
However, failure to hold the 0.30 USD support might open the way for another decline toward the 0.20 USD historical low.

Summary
After an 87% crash, XPL is consolidating in a narrow range within an ascending channel.
Key support sits at 0.29 USD, while major resistance is around 0.34–0.38 USD.
The market is now at a decision point — a breakout or breakdown from this range will determine the next major move.

✅ Trade here on $XPL
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