While overall sentiment saw a rapid improvement in the last 24 hours, Stellar and NEAR’s RSI eyed to test its overbought levels before facing a slight pullback. On the other hand, Filecoin’s Supertrend continued to be in the green zone while flashing high volatility in the near term.
Source: TradingView, XLM/USD
After recovering from its January lows, the alt saw impressive gains by rising above all its EMA Ribbons. However, since the sellers accelerated their force at the $0.2464-level, XLM descended in a down-channel (yellow).
After losing over 37% of its value, XLM plunged towards its 13-month low on 24 February. During this phase, the 20 EMA continued to display a strong resistance. Over the last five days, XLM was up by 21% and broke out of its down-channel. Also, the bulls kept testing the $0.19 resistance while marking higher troughs. This trajectory revealed increasing bullish influence. Any close above this resistance could propel a test towards the $0.209-mark.
At press time, XLM was trading at $0.198. Thebullish RSI moved in an up-channel and jumped above the 59-mark. Now, it most likely will try to test the overbought mark before a pullback.
Source: TradingView, NEAR/USDT
Since its ATH on 15 January, NEAR lost 62.83% of its value and rushed toward its 11-week low on 24 February. Moreover, it lost its crucial $10.9-level resistance (previous support).
NEAR witnessed an ascending channel (white) breakdown on its 4-hour chart. This fall formed a strong bearish trendline support (yellow, dashed). While the $7.6 horizontal support coincided with the trendline support, NEAR picked itself up from the $7.6-level. With over 29.6% gains in the last four days, it reclaimed lost $9.5-support and displayed a bullish edge.
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