Xpeng has been on a retracement path towards a potential support at $56. If price reaches near $56 and forms a good rejection, price would start taking off towards $80. In order for Xpeng to grow, price needs to fall back down and $56 would be a good price for Xpeng to fall back on. Furthermore, if NIO were to close the gap with Xpeng, more investors would be hopping on the bandwagon.
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