$XPL has retraced almost the entire early January 2026 pump and is now trading back near its post-dump base. After the initial hype move, price kept grinding lower for weeks.
Right now, this zone is important. Selling pressure has clearly slowed, and volatility is compressed.
For upside, XPL needs to reclaim and hold above the recent lower highs. Without that, any bounce is just a relief move.
