XPL is on the move again, breaking free from its ascending channel with strong volume support. After a sharp rally, it’s now testing key support near $0.90. With a 2.7% rise in the last 24 hours and heavy trading, traders are watching closely to see if the climb to $1.20 resumes.
Strong Breakout Fueled by Buyers
Throughout September, XPL steadily climbed inside a well-defined ascending channel on Binance’s 4‑hour chart. The price made consistent higher highs and lows, showing steady bullish momentum.
Source: AlphaCryptoSignal
Then, around September 25th, the price burst above the channel’s upper boundary on a big volume spike. This surge confirmed serious buying interest and marked a turning point.
Following the breakout, XPL shot above $1.40 but quickly met selling pressure. The price pulled back sharply and has since hovered near the breakout zone around $0.90. What was resistance now stands as a key support level. This is the zone bulls need to hold to keep the uptrend alive.
Retesting the Breakout Zone: What to Watch
This $0.90 level is critical. It lines up with the old resistance from the channel and a horizontal support band. If XPL can hold above here, it sets up a strong buy opportunity. Buyers may drive XPL up to $1.10 or even $1.20 if support holds. If XPL slips below this zone, it could drop back into the channel and test lower levels around $0.80 or $0.75.
Traders are keeping a close eye on volume spikes or bullish candles as signs of buyer interest. For now, volume has eased, hinting at a cooldown — but this often signals the market is gearing up for its next move.
Volume Slows Down, But the Setup Still Looks Promising
High volume during the breakout showed strong confidence from buyers. But since hitting the high, trading volume has dropped, reflecting a pause in momentum. This is typical after fast rallies and usually leads to sideways trading as buyers and sellers figure out the next direction.
Source: CoinGecko
How XPL behaves around $0.90 will be key. Holding could give bulls momentum to push prices higher again. However a break below might open the door to more selling. XPL is at an important crossroads. This retest zone will shape its near‑term price action.