Plasma (XPL) crashes 81% to a new all-time low | Credit: Hameem Sarwar
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Key Takeaways
XPL crashes to a new all-time low, reflecting severe selling pressure.
A breakdown below support could send XPL’s price toward $0.099.
If buyers defend support, a recovery toward $0.49 at the 0.236 Fib
Plasma (XPL) has suffered a dramatic downturn, crashing over 81% from its peak to a new all-time low.
The token’s persistent decline reflects fading market confidence and heavy selling pressure across small-cap altcoins.
At the time of writing, XPL’s price is swinging around $0.31, just above a critical support zone of around $0.25. A clear break below this level could expose the token to deeper losses.
Can the altcoin recover above the $0.34 resistance level? Will bears continue to outpace bulls?
Plasma Coin Dips
Examining the XPL’s price action, the Chaikin Money Flow (CMF) on the 4-hour chart currently stands at -0.27, indicating strong capital outflows and weak buying activity.
This deep negative reading confirms that sellers still control the market, with little evidence of rising inflows or buying interest.
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On the daily chart, XPL’s Money Flow Index (MFI) shows sustained bearish momentum.
At 43.60, the indicator remains below the neutral zone, and despite a slight upward tilt toward 50, the token still displays weak buying strength.
XPL’s price has printed multiple red candlesticks, signaling continued downside pressure toward the $0.25 support.
This indicates that sellers remain firmly in control, and any rebound toward 50 could be short-lived unless stronger inflows appear.
The Bull Bear Power also paints a similar picture. The indicator has printed consecutive red histogram bars below the neutral threshold.
However, the bars are gradually shortening, hinting at waning bearish momentum. While this does not confirm a reversal, it suggests that selling pressure may be easing as the price nears the $0.25 support zone.
A closer look at the Fibonacci retracement reveals where XPL’s price might head next. The altcoin trades at $0.31, below the 0.236 Fib level, with the latest red candle signaling a move toward its next support zone at $0.25.
Further declines could push prices toward the Fib level, aligning with its all-time low at $0.30.
However, if XPL successfully defends its next support area—where buyers re-enter—the token could attempt a relief rally toward the 0.236 Fib level at $0.49.
A close above this threshold could pave the way for a broader recovery, targeting the next resistance zone and signaling renewed market confidence.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
