XPL remains in a downtrend on the 4-hour chart, with the price being suppressed by moving averages, and market sentiment is clearly weak.

Since dropping from the high of 0.21, trading volume has continued to shrink. This is not a sign of panic selling; rather, it indicates that most people are waiting—waiting for a clear direction.

The key zone that can trigger a market move is between 0.125 and 0.13. However, it is important to note that only when there are obvious signs of support, such as candlesticks forming long lower shadows, can it potentially develop into a rebound or even a reversal. Otherwise, it is just a brief respite in a downtrend, and the overall trend will likely continue to be bearish.