xrp cryptocurrency price

NEAR Only 1% Away From New All-Time High — Multi Coin Analysis

NEAR Only 1% Away From New All-Time High — Multi Coin Analysis
Written by publisher team

BeInCrypto takes a look at the price action of seven cryptocurrencies, including Near Protocol (NEAR), which is very close to hitting a new all-time high.

BTC

Since the beginning of December 2021, BTC has been trading in a range between $46,300 and $51,750. It was recently rejected by the resistance area near $52,000 on December 27 (red icon) and has been declining since then.

Since December 30, it has been trading inside the $46,300 support area, which makes a double or triple bottom possible. This is often considered a bullish pattern, so a rebound in the price is to be expected.

ETH

On October 19, ETH broke through the descending resistance line and reached an all-time high of $4,868 on November 10. However, it has since declined.

Despite the dip, ETH has bounced at the previous descending resistance line several times (green symbols), each time confirming its validity as support.

As long as this line is traded above, the trend remains bullish.

XRP

XRP has been falling inside a descending parallel channel since September 6th. On December 4th, it bounced at the support line of this channel and created a very long lower wick (green symbol). This is a sign of buying pressure. Moreover, the rebound helped validate the $0.76 horizontal area as support.

The fact that XRP is still trading at the bottom of the channel can be considered bearish. However, the bullish structure remains in place as long as XRP is trading above the $0.76 region.

near

On December 23, NEAR broke out from a descending resistance line. It then declined slightly but established a higher low on December 28 before resuming its upward movement.

On January 4, it came very close to hitting a new all-time high, but only managed to reach $17.38. The rally was very close to the actual all-time high at $17.50 and the 1.61 external Fibonacci retracement resistance level (white).

If NEAR can break through this level, the next resistance will be found at $24.50. This is the external Fibonacci retracement resistance level of 2.61.

FTME

On December 26th, FTM broke out of a descending resistance line. It came back to validate as a support four days later (green icon) and has been moving upwards ever since.

On January 3, it moved above the $2.60 resistance. This is a horizontal resistance area and the 0.618 Fibonacci retracement resistance level, which increases its importance.

There are no more resistances left on its way to the $3.48 price ever.

One

Similar to the FTM, ONE also broke out of its descending resistance line on January 2. It has been increasing since then and is inside the $0.325 resistance area, which is the last area before a new all-time high.

If it is able to move above that level, the single level is likely to rise towards a new all-time high.

XTZ

Since the beginning of December, XTZ has been trading just above the horizontal area of ​​$4.25. On December 31, it made a higher low and has moved up a bit since then.

The nearest resistance area was found at $5.90. A move above this level may accelerate XTZ towards higher resistance.

For the latest Bitcoin (BTC) analysis from BeInCrypto, click here.

disclaimer

All information on our website is published in good faith and for general information purposes only. Any action the reader takes regarding the information on our website is at his or her own risk.

About the author

publisher team