In Brief
- Zcash (ZEC): Trades around $1,208 and moves sideways, with $1,150 as the key support.
- Cardano (ADA): Trades near $0.1908 in a downtrend, and bears stay in control below $0.215.
- Near Protocol (NEAR): Trades around $3.91 after falling from $6.00, with $3.75 as the key support.
- XRP: Trades near $1.28 in a prolonged correction, with $1.24 as the closest support.
XRP Enters Quick Correction
XRP’s correction keeps dragging on. The token is trading near $1.28, down from its September highs around $1.65. After a strong recovery in August and September, XRP has struggled to keep its bullish momentum. Selling pressure hasn’t eased, and sentiment keeps getting worse.
The daily chart shows a series of lower highs and lower lows, so sellers are firmly in control of the short-term trend. XRP is also trading below its major moving averages, which makes the bearish picture even stronger. Any recovery attempt could run into heavy resistance.
The closest support is between $1.24 and $1.25, where buyers have recently tried to set a temporary floor. A clear break below this zone could push XRP down to $1.20, and then to the psychologically important $1.15 level.
On the upside, XRP’s first resistance is around $1.30–$1.33. A breakout above this zone could bring some short-term relief. Stronger resistance sits near $1.35–$1.40, where several moving averages meet.
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The Relative Strength Index (RSI) is hovering in the lower half of its range. Momentum is bearish, but selling pressure may be close to running out. However, there’s no clear bullish divergence yet, so it’s too early to talk about a proper reversal.
Trading volume has dropped a lot compared with the spike during August’s rally. This points to fewer active traders and weak buyer conviction.
The short-term outlook stays bearish. XRP needs a proper move above $1.35 to show any real improvement.
If buyers defend $1.24, XRP could recover toward $1.3-$1.35. If this support breaks, XRP could drop further toward $1.20 and possibly $1.15. Until XRP reclaims its key moving averages and starts making higher lows, it’s too early to call a recovery.
Near Protocol (NEAR): Diving Further
NEAR Protocol (NEAR) has come a long way down from its October peak near $6.00 and is now trading around $3.91. After a strong September, NEAR is heading down. Selling pressure is growing, and buyers are losing confidence.
On the daily chart, the short-term picture keeps getting worse, with lower highs and lower lows. NEAR has fallen below its short- and medium-term moving averages, so bears are in control for now. However, the price is still above its longer-term moving averages, which means the bigger recovery isn’t fully broken yet.
The closest support is between $3.75 and $3.85, where buyers are trying to stop the drop. A clear break below $3.75 could send NEAR to the next support around $3.60, and possibly down to $3.30.
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On the upside, the first resistance zone is between $4.20 and $4.35, where several moving averages meet. A proper recovery above this zone could bring buyers back and push NEAR toward $4.60 and then $4.80.
The Relative Strength Index (RSI) has slipped toward the lower half of its range. Momentum is weakening, but the market isn’t deeply oversold yet. Trading volume is also moderate compared with September’s breakout, a sign that speculators have cooled off.
The short-term outlook stays bearish, especially while NEAR is below $4.35. Still, the longer-term moving averages nearby could act as support and trigger a technical bounce.
If buyers defend $3.75, the price is more likely to stabilize. A confirmed break below it could speed up the correction toward $3.60.
For now, it’s too early to expect a proper bullish reversal without a solid reaction at support and stronger buying volume.
Zcash (ZEC): Bulls Defend Key Support
Zcash (ZEC) is trading around $1,208 after a huge rally that sent the coin from around $500 in August to a peak near $1,700 in late September. Since then, ZEC has been moving sideways, with buyers and sellers fighting over the next move.
On the daily chart, ZEC is still above its longer-term moving averages, which is a good sign that the bigger bullish trend is intact. However, short-term momentum is getting weaker. ZEC is struggling to hold above the $1,300 resistance zone.
The closest support is between $1,150 and $1,180, where buyers have stepped in several times. A clear break below this area could speed up the selling toward $1,100, and then toward the psychologically important $1,000 level.
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On the upside, the first resistance is at $1,250, followed by a stronger $1,300-1,350 supply zone. A daily close above $1,350 could give bulls more momentum and open the way to $1,450 and $1,550.
The Relative Strength Index (RSI) stays near the neutral 50 level, which shows the market hasn’t picked a direction yet. Trading volume has also dropped compared with September’s rally, suggesting that speculative trading activity is back to it.
The short-term outlook stays mildly bullish as long as the $1,150 support holds. A proper recovery above $1,300 would confirm that buyers are back. A drop below $1,100 could mean a deeper correction.
Cardano (ADA): Under Pressure
Cardano (ADA) just can’t catch a break, it’s trading near $0.1908 after a long slide from its October highs around $0.28. The daily chart keeps getting worse, with lower highs, lower lows, and repeated failures to get back above key moving averages.
After a short recovery in September and early October, ADA hit strong resistance between $0.25 and $0.28. The rejection brought the bears back and pushed ADA below several important technical indicators.
ADA is now trading below its short-, medium-, and long-term moving averages, which makes the bearish outlook even stronger. These averages are pointing down, so sellers are clearly in control.
The closest support is around $0.185–$0.190, where the price is trying to find a temporary floor. A confirmed break below $0.185 could send ADA to the $0.175 support, and then to the stronger $0.160–$0.165 demand zone.
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Buyers need to reclaim $0.200 to show the first signs of recovery. Stronger resistance sits between $0.215 and $0.230, where several moving averages meet. A proper breakout above $0.230 would be a real improvement for the chart.
The Relative Strength Index (RSI) is getting close to oversold territory, which shows the downside momentum isn’t fading. This can come before short-term relief rallies, but on its own it doesn’t confirm a bullish reversal.
Trading volume is still fairly low, so buyers don’t seem convinced even after the recent drop. The short-term outlook for ADA stays bearish as long as the price is below $0.215.
If buyers defend $0.185, ADA could bounce toward $0.2-$0.215. If this support breaks, ADA is more likely to drop further toward $0.175 and possibly $0.160.
Until ADA makes higher lows and reclaims its major moving averages, any move up looks more like a short bounce than a proper bullish reversal.
