xpldownfall

$XPL
Trade Setup:
Entry Zone: 0.1550 - 0.1560
Take Profits:
TP1: 0.1520
TP2: 0.1500
TP3: 0.1480
Stop Loss: 0.1580

The recent price action in XPL/USDT signals a bearish breakdown as the asset struggles to hold above critical support levels. The descending trendline, combined with the bearish crossover of the Moving Averages, indicates a strong downward momentum. Traders should prepare for a potential drop as the market sentiment shifts negatively.

Short Market Outlook:
The current downtrend is reinforced by the 7-day performance of -18.59% and the 30-day performance of -0.51%. The immediate resistance at 0.1572 acts as a barrier for any bullish attempts, while the support at 0.1548 is likely to be tested soon. Key levels to watch include the 24-hour low at 0.1548 and the psychological level of 0.1500. Momentum indicators suggest a continuation of the bearish trend unless there is a significant change in market dynamics.

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