New Version, Worth Being Seen! #GateAPPRefreshExperience
🎁 Gate APP has been updated to the latest version v8.0.5. Share your authentic experience on Gate Square for a chance to win Gate-exclusive Christmas gift boxes and position experience vouchers.
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1. Download and update the Gate APP to version v8.0.5
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Key new features and optimizations
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Your fa
From the current technical perspective, the opportunity for shorting XPL is emerging.
The RSI indicator has already reached 61.59, approaching the overbought level of 70. What does this mean? Buying momentum is starting to weaken, and the possibility of prices moving downward is increasing.
The 4-hour candlestick chart reveals more clues—the price has just broken through a steep upward trendline. Such a breakout after a rapid rally often signals a short-term top, and the price may often pull back.
Although the MACD is still positive, the histogram is shrinking, indicating that the upward momentum is indeed waning. With insufficient strength, the rally is unlikely to continue.
If the price moves downward, the previous support level of 0.1429 is a good reference point for taking profits. This price level previously prevented further decline and can now serve as a target.