Overview
- NEAR Protocol (NEAR): Testing the 50-day moving average on a pullback
- Chainlink (LINK): Sellers are in control
- Zcash (ZEC): Consolidating after a significant rally
- Ethereum (ETH): Price Falls Below the 100-Day Moving Average
Overview
- NEAR Protocol (NEAR): NEAR has pulled back near the 50-day moving average around $4.28; a close above $4.75 would indicate the pullback has ended.
- Chainlink (LINK): LINK has declined more than 25% from its September high and is currently near a key support level around $11.00, with sellers still in control.
- Zcash (ZEC): ZEC is trading sideways between $1,050 and $1,370; a daily closing breakout above or below this range will determine the next direction.
- Ethereum (ETH): ETH is trading at approximately $2,330, below the 100-day moving average and finding support near the 200-day level at around $2,320.
NEAR Protocol (NEAR): Testing the 50-day moving average on a pullback
NEAR has begun to pull back after a strong rally. The coin is currently trading around $4.43, significantly below its recent high near $6.00 in early October. Price has repeatedly failed to hold above $5.00, and recent bearish candles suggest sellers are currently in control. However, NEAR remains well above the $1.80 range where it traded in early September, indicating the broader trend is still upward.
The price has now pulled back to near the 50-day moving average at $4.28. This level previously helped propel the market higher during the uptrend, and today’s buyers defending this level suggest some investors are buying the dip. This is a promising early signal, but a single candlestick is not enough to confirm a bottom. The 20-day moving average near $4.75 now acts as resistance; NEAR needs to close above this level to indicate that the pullback has ended.
The RSI has dropped from the overbought region above 80 in late September to around 48, indicating that strong buying pressure has eased and the market has cooled down. Volume has also declined since the peak, suggesting that selling pressure is not particularly heavy.
This gradual decline is typically healthier than a sudden crash, as it gives the market time to readjust. The moving averages below the price are still trending upward and remain well spaced apart. The 100-day moving average is around $3.50, and the 200-day moving average is around $2.80. These levels are significantly distant from the current price, indicating that NEAR previously rose rapidly.
If the 50-day moving average is breached, the next support level is near $3.50. A deeper decline could push the price to $2.80. If buyers hold at $4.28, NEAR could rebound to $4.75, followed by $5.00. If it regains $5.40, $6.00 will come back into view. The market is currently at a critical juncture; the daily closes over the next few days will indicate whether this is merely a brief pause in an uptrend or the start of a larger correction.
Chainlink (LINK): Sellers are in control
Chainlink is currently under pressure and appears weaker than most markets. LINK is currently trading at approximately $11.35, down from a high of around $15.50 at the end of September. The price has dropped more than 25% in less than a month. Since the peak, the price has consistently formed lower highs and lower lows, clearly indicating that sellers are in control.
The most significant development is the breakdown below the 50-day moving average, currently around $12.30. LINK has also fallen below the 100-day moving average at approximately $11.50, which has now turned into resistance. Shorter-term moving averages are trending downward, situated between $12.40 and $12.70. Every rally in October failed near these levels, meaning buyers have consistently failed to regain control.
The RSI is approaching 35, indicating weak momentum but not yet entering oversold territory. This suggests there is still potential for further price decline before a natural rebound occurs. The indicator has been steadily declining since late September, consistent with the price drop, and shows no signs of a reversal in momentum yet.
The key support level is the 200-day moving average near $11.00, which is very close to the current price. Buyers are likely to attempt to defend this area, as it also corresponds to the range where LINK traded at the end of August. If the daily candle closes below this level, the next target will be $10.00, followed by $9.50—the level where the market began its significant rally in August.
To resume its upward movement, LINK first needs to reclaim the 100-day moving average around $11.50. After that, the price must regain $12.00 and $12.50 to shift the short-term outlook. A move above $13.00 would indicate that buyers have regained control. The current chart remains cautiously biased. LINK is currently near its last major support level, and the next few daily candles will determine whether it holds support or continues to decline.
Zcash (ZEC): Consolidating after a significant rally
Zcash has entered a consolidation phase after a significant rally. The coin is currently trading at approximately $1,204, well below its late September high near $1,700. However, ZEC is still up over 150% from its August level of around $480, indicating that the broader trend remains strong. The pullback has been orderly, with prices remaining within a range of $1,050 to $1,370 throughout October.
The price is currently near the 50-day moving average at approximately $1,190. Over the past few weeks, ZEC has crossed this moving average multiple times, indicating a balance between buyers and sellers. The 20-day moving average near $1,235 and another short-term moving average around $1,300 lie above the price and act as resistance. Each rally toward approximately $1,350 has failed to break through, suggesting the market is forming lower highs.
The RSI is near 48, in the neutral zone, indicating no clear directional momentum. Volume has also declined significantly since the high. Low volume during this consolidation phase typically suggests the market is awaiting a new catalyst. A stronger volume surge will likely signal the next direction.
Below the price, the long-term moving average is still rising with considerable distance. The 100-day moving average is around $1,030, near the October low of approximately $1,050, which serves as key support. If this level is breached, the next support lies at the 200-day moving average around $810. That would represent a deeper pullback but still remains consistent with a healthy uptrend.
For buyers, the primary goal is a daily close above $1,300. Following that, $1,370 and $1,500 will come into focus. To return to $1,700, a clear breakout above October’s high is required. Currently, ZEC is in a neutral state; only a daily close above the $1,050 to $1,370 range will determine the next directional move.
Ethereum (ETH): Price Falls Below the 100-Day Moving Average
Ethereum is currently under pressure, trading at approximately $2,330 after retreating from a high near $2,800 in September, a decline of about 17%. The current candlestick is bearish, and the price has fallen below the 100-day moving average, signaling a negative trend for short-term buyers.
The 100-day moving average near $2,365 has now turned into resistance. Above it, the 50-day moving average is around $2,460, with shorter-term moving averages ranging between $2,470 and $2,540. All these moving averages are trending downward, indicating limited strength in the October rebound. ETH needs to reclaim $2,460 to reverse this trend.
The most important level currently is the 200-day moving average at approximately $2,320, which is very close to the current price. The previous candle touched $2,280 before rebounding, indicating that buyers are defending this area. However, the price continues to rely on this support after multiple tests, and each test weakens its effectiveness. A daily close below $2,300 would serve as a clear warning.
The RSI is approaching 38, indicating weakening momentum and nearing oversold levels. This suggests sellers are currently in control, but the downward move may have become somewhat overextended. Trading volume has also declined over the past few days, meaning selling pressure is not yet heavy. If a breakdown occurs alongside rising volume, the trend could become more severe.
If the 200-day moving average is breached, the next support level is near $2,250, followed by $2,100. A deeper decline could push prices back toward $1,900, the level where the market began its strong upward move in August. If buyers defend the current levels, ETH could rebound to $2,460, then $2,550. Currently, Ethereum is at a critical decision point. The daily closes over the coming days will indicate whether the 200-day moving average holds or if the pullback deepens further.