$XPL Update: Strong Momentum Continues!
$XPL (Plasma) is showing significant upward momentum, currently trading around $0.1435 with a healthy +11.15% 24h gain. This move is backed by strong trading volume, which has increased significantly in the last day. The price has bounced strongly after hitting a recent all-time low of around $0.1146 a couple of days ago, indicating strong buyer interest at lower levels.
Key Technicals:
Current Price: ~$0.1435
24h High: $0.1472
Support: Key moving averages (MA7: $0.1432, MA25: $0.1398, MA99: $0.1281) are converging below the price, forming a solid support zone.
Momentum: The price is now trading above its very short-term average, suggesting a shift in momentum for tactical traders.
Why XPL Matters:
Plasma is a unique Layer 1 blockchain designed specifically for zero-fee USDT transfers and stable coin payments, aiming to bring traditional finance on-chain. This strong fundamental use case continues to attract attention.
Keep an eye on whether XPL can break and hold above the recent 24h high to confirm a stronger reversal.