#plasma $XPL
$XPL is trading below every meaningful EMA on the short and mid timeframes, and that matters. Price at 0.1212 is under the 20, 50, 100, and 200 EMAs, with the 200 EMA sitting well above at 0.1271. That tells you the broader structure is still bearish, not just a short term pullback. The bounce attempts have been weak and quickly sold into, which fits with the failure to reclaim the 20 EMA around 0.1236. As long as price stays below that zone, any upside move should be treated as a reaction, not a reversal.
Momentum also looks tired. Volume is fading, with current volume sitting well below the 5 and 10 period averages. That is not what you want to see if buyers are serious about defending this level. The recent low near 0.1186 is now the line that matters. If that breaks with volume, there is very little structure below to stop a deeper move. On the upside, the 0.124 to 0.126 area is stacked with EMA resistance and previous rejection levels, making it a difficult zone to clear without a clear shift in participation.
The controversial take is this. XPL is not oversold enough to justify blind dip buying, but it is weak enough to punish late longs. This is a market where patience beats prediction. Either price reclaims and holds above the 20 and 50 EMA with rising volume, or it likely continues to bleed slowly and frustrate everyone involved. Right now, the chart favors sellers who stay disciplined more than buyers looking for a quick bounce.