The cryptocurrency market is currently witnessing sustained selling pressure on XRP, NEAR Protocol, and Cardano. Among these, Zcash stands out with a more stable performance. As of today, XRP is trading around $1.28, NEAR at $3.91, Zcash at $1,208, and Cardano at $0.1908.
XRP Remains in a Downward Spiral
Since reaching a peak of approximately $1.65 in September, XRP has been embroiled in an extended correction. After an August and September recovery effort, the buying momentum has waned while the selling pressure persists.
In the daily view, lower highs and lower lows are evident. XRP staying below the main moving averages suggests sellers maintain control in the short term. The immediate support zone lies between $1.24 and $1.25, with further declines possible to $1.20 and $1.15 if these support levels are breached.
“XRP’s selling pressure has not significantly eased. Without stabilizing above $1.35, the price lacks a solid recovery signal.”
Resistance looms between $1.30 and $1.33, while a higher selling zone is noted from $1.35 to $1.40. Although the Relative Strength Index (RSI) hovers in the lower range, hinting that the downtrend may be tiring, a clear reversal confirmation has yet to materialize. Furthermore, trading volume’s decline indicates weak buyer resolve.
NEAR Protocol Struggles Under Pressure
After retreating significantly from its October high of $6.00, NEAR Protocol is attempting to stabilize around $3.91. The robust performance seen in September has deteriorated, with prices slipping below both short and medium-term averages.
Nonetheless, NEAR’s position above its long-term averages leaves room for potential larger-scale recovery. The closest support is between $3.75 and $3.85; losing this support may see prices drop to $3.60 and later $3.30. To the upside, $4.20 to $4.35 stands as the primary resistance.
Zcash Stays Resilient Amid Market Flux
Following a sharp rally from around $500 in August to $1,700 by the end of September, Zcash is now trading steadily at approximately $1,208. Although short-term momentum is weakening, ZEC maintaining its position above long-term averages suggests an ongoing broader bullish trend.
Support is seen between $1.150 and $1.180. Should this range break down, levels to watch include $1.100 and the psychologically significant $1.000 mark. Upside resistance begins at $1.250, with stronger selling pressure anticipated between $1.300 and $1.350.
“The market remains undecided on ZEC’s direction. With the RSI near 50 and trading volumes lower compared to September’s rise, uncertainty prevails.”
Sellers Maintain Control Over Cardano
Cardano is grappling with an extended decline, trading around $0.1908 following its October high near $0.28. Brief recovery attempts in late September and early October found resistance in the $0.25 to $0.28 range, accelerating subsequent selloffs.
Cardano prices remain below short, medium, and long-term moving averages, reinforcing the bearish outlook. Immediate support is observed between $0.185 and $0.190, with potential slides to $0.175 and later $0.160 to $0.165 if breached. For any rebound, breaking through $0.200, and subsequently the $0.215 to $0.230 range, is essential.
