Last week was a rollercoaster for the markets and $XPL was not spared from the shake-up. The nervousness on Wall Street, with declines in the Nasdaq and the tech sector due to AI reports, triggered an outflow of capital towards less risky assets. This created a domino effect in the cryptos that led to @Plasma touching a historic low of $0.073 on February 6.
Being a project with a lot of liquidity but in a consolidation phase, any doubt in the stock market translates into quick sales. However, the current rebound towards $0.084 shows that interest in its payment network is still there. Technically, the RSI is coming out of the oversold zone, and analysts indicate that if it manages to stay above $0.080, the next real target is to recover $0.095. It is a battle of patience against macro volatility.
To better understand where the price might go, I recommend this technical analysis that you can find on YouTube: Analysis of the drop and rebound of Plasma (XPL). It explains very well how the current support levels are holding up despite the extreme fear in the market.