NEAR saw recent losses extend on Wednesday, as it fell to a one-month low during today’s session. NEAR fell as XMR traded in red and dropped to a multiweek low.
NEAR Protocol (NEAR).
NEAR was one of the biggest tokens to fall on hump-day, as prices fell to a one-month low earlier in today’s session.
After a Tuesday peak at $15.18, NEAR/USD fell to an intraday low of $12.50 Wednesday.
Prices fell to their lowest point since March 27th, and prices remain close to the recent support level of $12.45.
Since hitting this floor, there has been somewhat of a rebound, with the price now trading at $12.84, which is still nearly 7% lower than yesterday’s high.
This is because bulls historically have used the floor as an entry point. There were also a few rallies that occurred at this level.
Besides all of this, the 14 day RSI has been hovering at a two month low. This could also be a reason to believe in reversal.
Monero (XMR)
XMR was down by over 12% in today’s session, however as the day matured, losses somewhat eased from earlier lows.
As of writing, XMR/USD is trading at $225.58, which follows on from today’s intraday bottom of $224.32.
Overall, monero has been trading lower for the past six sessions, with today’s low coming less than 24 hours after a top of $243.88.
The latest drop in prices pushed them below $229.00 (long-term support) and XMR fell to a 2-week low.
Although prices have fallen to a multiweek low, the 14 day RSI currently tracks at its lowest point since February 26.
Bears are likely to continue this trend and push price lower than $211.00 if it continues.
Were XMR able to reverse the current bearish trend? Please share your views with us in the comments.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.
