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$XPL riding a strong bull wave at the moment, though those overbought indicators got me feeling kinda wary.
On the volume side, the last few 1h candles are showing lower action, like dropping from around 65 million to 41 million even as price climbs. That screams weakening momentum to me, you know?
Capital flows look interesting though:
- Contracts have a hefty +5M USDT net inflow over 24h, which points to longs dominating with leverage.
- Spot side's got +1.7M USDT coming in too, so retail folks are jumping on board.
- But shorter timeframes like 5m/15m show some outflows – probably people cashing out at these highs.
Overall, I'm leaning cautious long
$XPL here, but with super tight risk management.
Best entry? Wait for a dip back to 0.168-0.17 where MA5 support lines up nicely.
Or if it breaks 0.1765 with real volume behind it, that could work too.
SL at 3.5% down around 0.1683, right under MA5 and that key 0.168 psych level.
Targets
$XPL : First at 0.1816 (Resistance, about 4% up), then pushing to 0.1878 (next resistance, 7.6% gain).
Heads up on risk – RSI, KDJ, and BOLL %B are all screaming overbought, so a pullback feels likely soon. Only jump in if you're cool with strict stops. ATR's sitting at 0.0034, meaning hourly swings around 2%, which backs up that 3.5% SL being reasonable.
#XPL #XPLUSDT #Plasma