Ripple rebounded from its 5-moth support following a bullish divergence between its CMF and price. On the other side, NEAR appeared to slow down but secured massive support at $16.4. Meanwhile, the overall crypto market flashes bullish actions. While publishing this content, the global market capitalization stands at $1.98 trillion, suggesting a 0.03% increase within the past 24 hours. Nevertheless, bearishness appears persistent.
XRP broke out of a 3-week downward channel as it attempted to reclaim the crucial support at 61.8% FIB. Meanwhile, the alt formed lower highs as sellers ensured the $0.8029 mark, maintaining the support at 61.8%. The actions had XRP on a descending channel.
Bulls joined around $0.7292 after the remittance token lost the support near the golden line, easing the selling pressure. While writing this analysis, XRP hovered at $0.7443. Meanwhile, the price function and Relative Strength Index seemed in harmony. The indicator plans to overcome the barrier at 44 after hitting the oversold level.
Surprisingly, the Chaikin Money Flow maintained uptrends, supporting buying actions as it clawed back beyond the zero-line. That had its printing a bullish divergence with the asset price. However, the ADX appeared to slow down, affirming weak directional bias for Ripple.
Near Protocol (NEAR)
NEAR witnessed a downward channel breakout on January 10 as bulls kept the support at $13.2. That had the altcoin in a price discovery phase. The crypto has had a remarkable 57% ROI since January 10 low, poking the January 15 ATH at $20.597. However, the coin has seen pullbacks since then but discovered support at $16.4.
While publishing this article, NEAR traded around $16.547. The RSI witnessed a swift 30 point drop after testing 61-level for six days. That had the indicator hitting the 33-mark three times over the past 48 hours. For now, the Relative Strength Index witnessed a bullish divergence with NEAR price as it attempted to close beyond 38.
The OBV kept its closest support that ensured high prices last week, suggesting consistent buying momentum. Nevertheless, the DMI still supported bearishness.
Stay tuned for upcoming cryptocurrency updates.