XPL Price Reclaims $1 After 14% Rise, Yet Far From Full Recovery

Core Insights - Plasma (XPL) has reclaimed the $1 mark after a significant 14% surge in the past 24 hours, indicating a potential recovery phase for the altcoin [1] - The overall market sentiment is improving, supported by external factors such as the US Government Shutdown and Bitcoin reaching a new all-time high, which has positively influenced investor appetite for smaller altcoins like XPL [3] Technical Indicators - The Relative Strength Index (RSI) shows that XPL is entering bullish territory, suggesting increased buying pressure and a shift in trader confidence compared to last week's consolidation phase [2] - The Chaikin Money Flow (CMF) indicates a sharp increase in capital inflows into Plasma, confirming that investors are allocating more funds toward XPL, likely in anticipation of a larger rally [4][5] Price Analysis - Currently, XPL trades at $1.05, just below the key resistance level of $1.08, with the recent 14% surge demonstrating strong bullish momentum [6] - If market conditions remain stable, XPL could potentially break above $1.08 and aim for a price target of $1.29 or higher, driven by sustained buying activity and favorable macro trends [7] - Conversely, if investor sentiment weakens or external conditions change, a drop below $0.95 could lead to further losses, potentially pulling XPL down to $0.81 and undermining the current bullish outlook [8]