Bitcoin’s reversal from its 4-hour 200 EMA at $42K pulled the world’s largest digital asset back toward the $38,000 mark.
As a result, the wider market saw 24-hour retracements that led NEAR, Monero and Filecoin’s RSI to drop toward the oversold mark. Now that an expected bounce-back occurred, the buyers needed to up their game by amplifying trading volumes to negate the superior selling vigor.
Near Protocol (NEAR)
Source: TradingView, NEAR/USDT
Since striking its ATH, NEAR lost more than 64% of its value and plunged toward its multi-month low on 24 February. But the long-term floor at $7.6 supported this collapse and activated a trend-altering bull rally.
During this retrieval, the altcoin over-recovered its previous losses while rushing toward its 11-week high on 8 April. Thus, after almost matching its ATH, the sellers quickly dragged the price below the trendline support (now resistance). Should the 50 EMA (cyan) drop below the 200 EMA (green), NEAR could see an extended slump in the coming times.
At press time, NEAR was trading at $12.921. As the RSI rose from the ashes of the oversold mark, it bullishly diverged with price over the last two days. So, a short-term retrieval on the charts toward the 20 EMA is plausible.
Monero (XMR)
Source: TradingView, XMR/USD
Since coming to terms with the $296-ceiling during its November highs, XMR bears steered the direction in their favor. Consequently, the price rushed toward the 15-month baseline at $133.
While approximating its yearly lows on 24 February, XMR recouped at this floor while buyers provoked a 118% growth in an up-channel (white) rally. But with the $283-mark curtailing the bull power, the sellers pulled XMR toward the ‘cheaper’ side of the Bollinger Bands.
At press time,
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