• Plasma (XPL) rebounds strongly, signaling renewed investor interest and showing clear signs of bullish momentum.
• Analysts indicate XPL has likely hit its bottom and could soon target a rise toward $2.
• Price is holding key support levels, suggesting the potential for a fast and sustained upward rally.

Plasma (XPL) is gaining attention again as it bounces off recent pressure on the market. Analysts believe the token has probably hit rock bottom and might be heading for yet another upswing. Increasing euphoric sentiments whisper that there might be a new bull run on the horizon if the trend persists.

At the time of writing, XPL is trading at $0.9113, having registered a 2.19% increase in the last 24 hours. The 24-hour volume for this token is $3.8 billion, and the market capitalization is $1.64 billion, as there is renewed investor interest.

Plasma (XPL) Recovery Signals Next Big Move

Prominent crypto analyst, nathanhead.eth, expressed a positive perspective and stated that following a week of aggressive sell-offs, XPL appears to have hit bottom. In his eyes, “The bottom is finally in, it’s time for XPL to climb to $2 and beyond.”

Also Read | Shibarium Survives Bridge Hack With 4.6M BONE Recovery and New Safeguards

Plasma (XPL) Shows Strength After Correction

Meanwhile, another analyst by the name of Alpha Crypto Signal noted that XPL just experienced a quick correction from the fantastic rally that it monitored from September 26 to 30.

The analyst also pointed out that the current price is sustaining around its past support area, and that’s the critical indication of strength. In this case, as long as XPL sustains that area, it can set in motion a fast rally upwards in the subsequent sessions.

Nevertheless, analysts cautioned at the approach of the weekend, as manipulation of prices is a likelihood during lean-volume periods. They cautioned individuals within the market against going all in or applying massive positions at this stage, as short-term movement can again manifest itself.

Overall, sentiment for Plasma seems to be turning from caution towards optimism, with analysts hoping for $2 as the next target if this current speed of recovery holds out.

Also Read | Litecoin Ignites Bullish Momentum, Could This Be the $160 Explosion?