$XPL /USDT — 15m Technical Read
Price is rotating lower and now compressing around 0.1240–0.1246, showing a pause after the failed push higher. The 0.1233–0.1240 zone is the key defended support — buyers stepped in aggressively on the sweep, absorbed sell pressure, and prevented immediate downside continuation.
Structure remains fragile. The rejection near 0.1265–0.1270 marked a clear lower high, and price is trading back below short-term MAs, signaling sellers are leaning on rallies. Momentum is soft, but not expanding to the downside yet — this looks like controlled distribution, not panic selling.
Overhead, 0.1250–0.1260 is the first resistance pocket, where sellers previously capped price and late buyers got trapped. Above that, 0.1275–0.1290 is the major resistance band aligned with the broader downtrend and MA(99) supply.
Bias: Neutral to bearish. The tape favors downside continuation unless buyers can reclaim 0.1260 with momentum expansion.
Caution: Acceptance below 0.1233 would invalidate the defended base and likely trigger fresh downside pressure, shifting control decisively back to sellers.
For now, this is range compression after rejection — market is waiting for the next impulse, with sellers still holding the structural edge.
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