- •Plasma (XPL) sits at a pivotal $1.35–$1.38 support zone after an explosive rally.
- •Traders eye resistance near $1.45–$1.50 if bulls defend the current support.
- •A breakdown below $1.35 could trigger a pullback toward the $1.20–$1.25 range.
Plasma (XPL) is on a crossroads, trading just above the support zone of 1.35‑1.38 following its steep increase. This area is under close scrutiny by traders because it could either keep the momentum going up or turn the momentum to the sellers.
Support Zone Under Pressure
Plasma (XPL) is trading directly above its first major horizontal support area between $1.35 and $1.38. This zone has emerged as the first defensive level after the token’s recent explosive rally. Markets often consolidate after sharp surges, and this level is now attracting close attention from traders.
Analyst Alpha Crypto Signal (@alphacryptosign) noted that this area is critical, warning that bulls need to defend it strongly. According to the chart, a clean hold could allow a rebound toward the $1.45–$1.50 range. However, failure to maintain this base with strong selling pressure could shift momentum back in favor of sellers.
Recent trading volume has shown mixed signals. While dips into this support zone have drawn buying interest, the lack of strong bullish follow‑through has left uncertainty in market conviction. Price action continues to balance between potential short‑term recovery and further retracement.
Resistance Targets and Bullish Scenarios
If XPL manages to defend the $1.35–$1.38 support, traders are looking at $1.45–$1.50 as the next resistance pocket. This level has acted as a ceiling during previous trading sessions and lines up with the short‑term moving averages.
A sustained close above $1.50 would mark structural improvement, potentially opening the way for buyers to extend the move higher. For now, however, the bounce into resistance would be viewed as a test of strength rather than a clear reversal. The market will require continued momentum and higher volume to validate such a move.
Community sentiment remains cautiously optimistic. The early entrants acknowledge that the rally was driven by hype but the current buildup at these levels is a sign of some increasing confidence in the direction the project is taking. Being over $1.38 would provide bulls with a better probability of regaining momentum in the short‑term.
Risk of Deeper Pullback
On the downside, the key risk lies in losing $1.35 support with strong volume. A decisive breakdown would likely drive the price lower into the $1.20–$1.25 range. This area served as a previous consolidation base and could attract renewed demand if tested again.
In an expansion of the topic, Finish (@0xFinish) noticed that Plasma is currently reportedly worth at least $5 billion. He emphasized that the project acquires momentum very quickly and mentioned such blockchains as Ethereum, Solana, and Plasma that may be applicable in the long‑term scope. However, even short‑term price changes are driven by the short‑term trading patterns.
As of the time of writing, Plasma (XPL) trades at $1.34, with a 24‑hour trading volume of $1.84 billion. This reflects a ‑11.72 % decline in the last 24 hours, although the token still records a price increase over the past week. Market participants will be watching closely to see if the $1.35–$1.38 area holds as a reliable support.