XPLA Price Prediction: XPLA Rises 54% In A Day While This New Altcoin Makes An Unexpected Entry

Updated: 27 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The XPLA price has turned bullish after a multi-week consolidation above the $0.1338 support level.

The token’s market value is almost 55% higher, with CoinMarketCap data showing a 10% surge on the day. This is backed by a 145% increase in 24-hour trading volume for XPLA. It is exchanging hands for $0.1985 at 9.30 am EST.

XPLA Price Outlook As It Breaks Out From a Bearish Pattern

XPLA price breaking out 54% has seen the altcoin escape the confines of a descending parallel channel. With an intra-day high of $0.2664, the price tested the critical resistance at $0.2624. This was before pulling back to the current price of $0.1984.

The $0.2624 level is critical as it was flipped from key support to a stiff resistance. Therefore, a decisive move above it could usher the XPLA price to a new dawn, with solid prospects for a sustainable climb. Further north, the price could tag $0.3716 or extend to the $0.8198 range high in a highly bullish case. This level was last tested around mid-March.

The Relative Strength Index (RSI), which shows buyer momentum, is above 50 and edging north. This shows the bulls are still strong and increasing their buying power. Also, the Awesome Oscillator (AO) shows a sustained sequence of green candlestick bars, interpreted as dominance by the bulls in the XPLA market. Both these indicators add credence to the bullish thesis.

On the other hand, if early profit booking begins, the prospects of a continuation of the trend could be eradicated. The ensuing selling pressure could plunge the XPLA price back into the grasp of the descending parallel channel, possibly spiraling to the range low of $0.1338 or lower.

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