Cardano, Tron, NEAR Price Analysis: 08 May

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As the broader market crumbled all the way down to the $1.6T-mark at press time, the long-term HODLers have been trying to stall the boosted sell-off situation. Consequently, Cardano and NEAR fell below their 20/50/200 EMA while poking their multi-month lows on 8 May.

On the other hand, Tron’s 4-hour RSI, unlike its peer alts, swayed above the midline as the alt entered into a low volatility phase.

Source: TradingView, ADA/USDT

After the bears found renewed selling pressure at the $1.1-$1.2 resistance range, ADA restored its slump phase and dropped below its 4-hour 20/50/200 EMA. Meanwhile, this descent chalked out a 41.07% retracement over the last 33 days.

The 5 May sell-off spurred a series of bearish engulfing candlesticks that pulled ADA down to its 15-month low on 8 May. While the sellers assumed immediate control of the trend, the bulls needed to scale up their efforts to soar the trading volumes.

At press time, ADA traded at $0.7454. The RSI has been on a steep downtrend over the last three days. Its week-long troughs revealed a bullish divergence with price. Thus, a revival from its current levels was plausible in the coming times. But with the CMF diving below the zero-mark, the buyers had to up their game substantially to alter the current bearish outlook.

Source: TradingView, TRX/USDT

After lifting off from the $0.06-support, TRX made impressive progress on its chart. Higher lows alongside enduring highs beyond the 38.2% and 50% Fibonacci level fetched well-needed gains for the alt. 

Then, as the price approached its multi-week trendline resistance (yellow, dashed), the alt quickly turned its back on it while breaking down from the up-channel. With the 61.8% level standing sturdy, TRX faced difficulties in prolonging