After a pullback, $XPL is approaching its previous high again, suggesting a potential second upward move. We'll wait for confirmation from the hourly close.
Binance Spot reached 0.11578 at 5 AM today, then pulled back to 0.10686 at 6 AM. The subsequent two hourly lows rose consecutively, closing at 0.11466 at 8 AM, bringing the price back near the previous high. The pullback didn't immediately turn into a sharp decline.
However, the volume for the second upward move hasn't caught up: the volume at 8 AM was about 35% higher than at 7 AM, but only 59% of that at 5 AM. This is evidence of a correction, not a confirmed breakout.
Next, watch 0.11578: a close above this level on the hourly chart, followed by a pullback that doesn't fall back, would be more convincing for a continuation of the upward trend. If it falls below the 0.10686 low (the pullback low at 6 AM), the observation of this rising low becomes invalid. Even if it rises and then falls back below the previous high, don't assume it has stabilized.
Open the 1-hour chart for XPL, look at the closing price and backtesting, and avoid chasing the peaks that haven't closed yet. Only spot trading is observed; no open interest is displayed.
Data/Chart Source: Binance XPL/USDT Spot, September 25th, 09:04 (UTC+8), last unclosed candle.
https://www.binance.com/en/trade/XPL_USDT?type=spot
Binance Spot reached 0.11578 at 5 AM today, then pulled back to 0.10686 at 6 AM. The subsequent two hourly lows rose consecutively, closing at 0.11466 at 8 AM, bringing the price back near the previous high. The pullback didn't immediately turn into a sharp decline.
However, the volume for the second upward move hasn't caught up: the volume at 8 AM was about 35% higher than at 7 AM, but only 59% of that at 5 AM. This is evidence of a correction, not a confirmed breakout.
Next, watch 0.11578: a close above this level on the hourly chart, followed by a pullback that doesn't fall back, would be more convincing for a continuation of the upward trend. If it falls below the 0.10686 low (the pullback low at 6 AM), the observation of this rising low becomes invalid. Even if it rises and then falls back below the previous high, don't assume it has stabilized.
Open the 1-hour chart for XPL, look at the closing price and backtesting, and avoid chasing the peaks that haven't closed yet. Only spot trading is observed; no open interest is displayed.
Data/Chart Source: Binance XPL/USDT Spot, September 25th, 09:04 (UTC+8), last unclosed candle.
https://www.binance.com/en/trade/XPL_USDT?type=spot
