$XPL wicked down to 0.069—will it hold the second time?
XPL perpetuals surged to 0.0863 on a 4-hour candle last night, then plunged to 0.0690, with 92 million U in volume. The previous candle had less than 13 million U.
It then rebounded to a high of 0.0759 before sliding all the way back down. It’s now at 0.0703, down 13.8% over 24 hours, with a nearly flat funding rate of +0.005%.
My plan:
Watch zone: 0.0690–0.0700 (the wick low and tonight’s low of 0.06955)
If it breaks below 0.0680, the setup is invalidated
First resistance to watch: 0.0737, then 0.0759
Do you think this is a double bottom, or will it break below the wick and keep falling?
The above is not investment advice.
XPL perpetuals surged to 0.0863 on a 4-hour candle last night, then plunged to 0.0690, with 92 million U in volume. The previous candle had less than 13 million U.
It then rebounded to a high of 0.0759 before sliding all the way back down. It’s now at 0.0703, down 13.8% over 24 hours, with a nearly flat funding rate of +0.005%.
My plan:
Watch zone: 0.0690–0.0700 (the wick low and tonight’s low of 0.06955)
If it breaks below 0.0680, the setup is invalidated
First resistance to watch: 0.0737, then 0.0759
Do you think this is a double bottom, or will it break below the wick and keep falling?
The above is not investment advice.
