Overview
- XRP enters a rapid pullback
- Near Protocol (NEAR) continues to decline further.
- Zcash (ZEC): Bulls Hold Key Support
- Cardano (ADA): Under Pressure
Overview
- Zcash (ZEC) is trading and consolidating around $1,208, with $1,150 serving as key support.
- Cardano (ADA) is trading around $0.1908, in a downtrend, with bears still dominant below $0.215.
- Near Protocol (NEAR) is trading at approximately $3.91 after dropping from $6.00, with $3.75 serving as a key support level.
- XRP is approaching $1.28 during a continued pullback, with recent support at $1.24.
XRP enters a rapid pullback
The pullback in XRP continues. The token is currently trading near $1.28, down from its September high of approximately $1.65. After a strong rebound in August and September, XRP has struggled to maintain bullish momentum. Selling pressure remains unchecked, and market sentiment continues to deteriorate.
The daily chart shows a series of lower highs and lower lows, indicating that bears are firmly in control of the short-term trend. XRP is also trading below its key moving averages, further reinforcing the bearish outlook. Any attempt at a rebound is likely to encounter strong resistance.
The recent support zone lies between $1.24 and $1.25, where buyers recently attempted to establish a temporary bottom. A clear break below this range could see XRP decline toward $1.20, followed by the psychological level of $1.15.
On the upside, XRP's first resistance zone is between $1.30 and $1.33. A breakout above this range could provide some short-term relief. Stronger resistance is near $1.35 to $1.40, where multiple moving averages converge.
The Relative Strength Index (RSI) is hovering in the lower half of its range. Momentum is bearish, but selling pressure may be nearing exhaustion. However, there is no clear bullish divergence yet, so it is still too early to speak of a genuine reversal.
Compared to the surge in trading volume during August’s rally, volume has declined significantly, indicating fewer active traders and weak buyer confidence.
The short-term outlook remains bearish. XRP needs to sustainably hold above $1.35 to show genuine improvement.
If buyers hold at $1.24, XRP could rebound to $1.30–$1.35; if this support is broken, XRP may decline further toward $1.20, even $1.15. As long as XRP has not reclaimed key moving averages and begun forming higher lows, it cannot yet be considered a true rebound.
Near Protocol (NEAR): Further decline
NEAR Protocol (NEAR) has declined significantly from its high near $6.00 in October and is currently trading around $3.91. Following a strong rally in September, NEAR is now weakening. Selling pressure is increasing, and buyer confidence is declining.
The short-term trend on the daily chart continues to deteriorate, characterized by lower highs and lower lows. NEAR has broken below both short- and medium-term moving averages, indicating that bears are currently in control. However, the price remains above the longer-term moving averages, suggesting that the larger-scale rebound structure has not yet been fully compromised.
The recent support range is between $3.75 and $3.85, where buyers are attempting to halt the downward momentum. A clear break below $3.75 could see NEAR test its next support level at $3.60, and potentially $3.30.
On the upside, the first resistance zone lies between $4.20 and $4.35, where multiple moving averages converge. If this zone is effectively reclaimed, buying pressure may return, pushing NEAR toward $4.60, followed by $4.80.
The Relative Strength Index (RSI) has moved into the lower half of its range. Momentum is weakening, but the market has not yet entered deeply oversold territory. Volume is also at moderate levels compared to the September breakout, indicating that speculative enthusiasm has cooled.
As long as NEAR remains below $4.35, the short-term outlook remains bearish. However, nearby longer-term moving averages may act as support and trigger a technical rebound.
If buyers hold at $3.75, the price is more likely to stabilize; if this level is confirmed broken, the pullback could accelerate toward $3.60.
It is still too early to expect a genuine bullish reversal until a solid reaction occurs at the support level and buying volume strengthens.
Zcash (ZEC): Bulls Hold Key Support
Zcash (ZEC) is currently trading at approximately $1,208. Previously, the asset rose steadily from around $500 in August and reached a high near $1,700 in late September. Since then, ZEC has been consolidating, with bulls and bears vying for direction.
On the daily chart, ZEC remains above longer-term moving averages, indicating that the broader bullish trend is still intact. However, short-term momentum is weakening, and ZEC is struggling to hold above the $1,300 resistance zone.
The recent support zone lies between $1,150 and $1,180, where buyers have stepped in multiple times. A clear break below this area could accelerate selling pressure, first targeting $1,100, followed by the psychological key level of $1,000.
On the upside, the first resistance level is at $1,250, followed by a stronger supply zone between $1,300 and $1,350. If the daily candle closes above $1,350, bulls may gain additional momentum, opening the way toward $1,450 and $1,550.
The Relative Strength Index (RSI) remains near the neutral 50 level, indicating that the market has not yet chosen a direction. Volume has also declined compared to the September rally, suggesting a reduction in speculative trading activity.
As long as the $1,150 support holds, the short-term outlook remains slightly bullish. A reclamation above $1,300 would confirm the return of buyers; a break below $1,100 could signal a deeper correction.
Cardano (ADA): Under Pressure
Cardano (ADA) remains under pressure, currently trading at approximately $0.1908, continuing its decline from its October high of around $0.28. The daily chart shows persistent deterioration, characterized by lower highs, lower lows, and multiple failed attempts to reclaim key moving averages.
After a brief rebound in September and early October, ADA encountered strong resistance between $0.25 and $0.28. This resistance revived bearish momentum, pushing ADA below several key technical indicators.
ADA has now fallen below its short-, medium-, and long-term moving averages, further reinforcing a bearish outlook. All these moving averages are trending downward, indicating clear dominance by sellers.
The recent support zone is near $0.185 to $0.190, where the price is attempting to find a temporary bottom. If a breakdown below $0.185 is confirmed, ADA could decline toward the $0.175 support, followed by a stronger demand zone at $0.160 to $0.165.
Buyers need to reclaim $0.200 to show initial signs of a rebound. Stronger resistance lies between $0.215 and $0.230, where multiple moving averages converge. A true improvement in the chart will only occur if $0.230 is effectively broken through.
The Relative Strength Index (RSI) is approaching oversold territory, indicating that downward momentum has not yet faded. This may trigger a short-term relief rally, but this alone does not confirm a bullish reversal.
Trading volume remains relatively low, indicating that buyers are still not confident, even after the recent decline. As long as the price remains below $0.215, ADA’s short-term outlook continues to be bearish.
If buyers hold at $0.185, ADA could rebound to $0.20–$0.215; if this support is broken, ADA is more likely to decline further toward $0.175, or even $0.160.
Any rally before ADA forms a higher low and reclaiming the key moving averages is more likely a temporary rebound rather than a genuine bullish reversal.
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