Waking up to see $XPL burned red like this—doesn’t that make quite a few guys restless, right? Don’t let the negative numbers like -7% cloud your vision, because this market is a game of psychological warfare, not a place for you guys to play around with the mindset of "buying the bottom to get rich."
Looking at the current technical structure, I feel the market is testing everyone’s patience to the extreme:
🔹 15-minute timeframe: MA(20) is sitting at 0.0997, while the current price at 0.0993 is hugging EMA(9). This suggests the sellers are still in control in the short term, with no sign of a decisive pullback.
🔹 1-hour timeframe: MA(20) is at 0.0998 and EMA(9) is at 0.0993. The chart is showing an extremely uncomfortable convergence. If price can’t hold the 0.0990 level, there’s a high chance of a strong DUMP that wipes out the remaining LONG positions.
Personally, I think this isn’t the time to catch a falling knife—unless there’s a strong pullback signal coming from a solid support zone. The setup I’m tracking for this coin is as follows:
📌 Position: SHORT (Preferred with the main trend)
🎯 Entry: Wait for price to rebound in the 0.0995 - 0.0998 zone (If the price pulls back to test the MA/EMA).
🎯 TP: 0.0960 - 0.0940 (Take profit in portions).
📌 SL: 0.1015 (Absolutely don’t hold a loss beyond this resistance area).
If anyone is still holding and stuck in a losing trade, watch how price reacts at 0.0990. If it breaks that level but there’s no buying force, cutting the loss to preserve capital is the smartest option.
And you guys—are you choosing to "hold the loss," or did you manage to exit the position from yesterday already?
#Crypto #Trading #Binance
Note: This is my personal perspective, not investment advice. Trading always comes with risk (DYOR).
Looking at the current technical structure, I feel the market is testing everyone’s patience to the extreme:
🔹 15-minute timeframe: MA(20) is sitting at 0.0997, while the current price at 0.0993 is hugging EMA(9). This suggests the sellers are still in control in the short term, with no sign of a decisive pullback.
🔹 1-hour timeframe: MA(20) is at 0.0998 and EMA(9) is at 0.0993. The chart is showing an extremely uncomfortable convergence. If price can’t hold the 0.0990 level, there’s a high chance of a strong DUMP that wipes out the remaining LONG positions.
Personally, I think this isn’t the time to catch a falling knife—unless there’s a strong pullback signal coming from a solid support zone. The setup I’m tracking for this coin is as follows:
📌 Position: SHORT (Preferred with the main trend)
🎯 Entry: Wait for price to rebound in the 0.0995 - 0.0998 zone (If the price pulls back to test the MA/EMA).
🎯 TP: 0.0960 - 0.0940 (Take profit in portions).
📌 SL: 0.1015 (Absolutely don’t hold a loss beyond this resistance area).
If anyone is still holding and stuck in a losing trade, watch how price reacts at 0.0990. If it breaks that level but there’s no buying force, cutting the loss to preserve capital is the smartest option.
And you guys—are you choosing to "hold the loss," or did you manage to exit the position from yesterday already?
#Crypto #Trading #Binance
Note: This is my personal perspective, not investment advice. Trading always comes with risk (DYOR).