Multiple major cryptocurrencies are facing critical support tests as market momentum cools and recent rallies fade. NEAR Protocol, Chainlink, Zcash and Ethereum have all seen price declines and are now trading close to key moving averages that could determine their short-term direction.
NEAR Protocol (NEAR) retests 50-day average as rally pauses
NEAR Protocol, a smart contract blockchain network known for scalability and developer-friendly features, is experiencing a pullback after a strong rally. The price is currently around $4.43, retreating from an October high near $6.00. Despite multiple attempts, NEAR struggled to sustain levels above $5.00, with recent downward moves highlighting sellers’ control.
Nonetheless, NEAR remains well above the $1.80 zone where it traded in early September, supporting an overall upward trend. The price has dropped to its 50-day average at approximately $4.28, a level that previously supported the rally. Buyers are defending this area, as shown by a recent candle with a long lower shadow, often signaling dip buying. However, a single candle does not typically confirm a reversal.
Technical indicators point to a cooling trend. The Relative Strength Index (RSI) has fallen from above 80 to about 48, and trading volumes have eased compared to the rally’s peak. This suggests reduced buying activity but not heavy selling pressure.
Key resistance is now the 20-day average near $4.75. A daily close above this level could indicate an end to the pullback. If the 50-day average fails to hold, the next support sits around $3.50, followed by $2.80. Conversely, holding above $4.28 could see NEAR rebound toward $4.75 and retest $5.00. A move past $5.40 would put $6.00 back into focus.
| Level | Support | Resistance |
|---|---|---|
| NEAR Price | $4.28 (50-day MA) | $4.75 (20-day MA), $5.00, $6.00 |
| Next Supports | $3.50 (100-day MA), $2.80 (200-day MA) | – |
Recent price action in NEAR shows buyers actively defending the 50-day average, but the inability to hold above $5.00 suggests that the rally has paused and the market is now seeking direction.
Chainlink (LINK) falls through key support zones
Chainlink, a decentralized oracle network used for connecting smart contracts with external data, is under significant pressure. LINK trades near $11.35, down from nearly $15.50 at the end of September—a drop of more than 25%. Lower highs and lower lows signal a clear downward trend, with sellers in control. Notably, LINK has broken below its 50-day and 100-day averages, which now act as resistance levels around $12.30 and $11.50 respectively.
The RSI is around 35, indicating weak momentum but not technically oversold, leaving room for more downside. The main support is the 200-day average near $11.00, close to current prices and matching a previous trading range from late August. A daily close below this level could open the way to $10.00 and then $9.50, where LINK began its most recent rally in August. To reverse the trend, LINK would need to regain $11.50, followed by $12.00 and $12.50. At present, caution prevails as the token sits on its final major support.
Zcash (ZEC) consolidates after sharp rally
Zcash, a privacy-focused cryptocurrency that provides shielded transactions, is moving sideways after rising from $480 in August to a late September peak near $1,700. ZEC now trades around $1,204, maintaining a range between $1,050 and $1,370. The price is positioned at its 50-day average, near $1,190, and has crossed this line repeatedly, indicating balanced forces between buyers and sellers.
Resistance lies at the 20-day average near $1,235 and short-term averages around $1,300. Every recovery toward $1,350 has stalled, signaling a series of lower highs. With an RSI near 48 and subdued volume, ZEC awaits a strong catalyst to initiate its next move. Key support is the 100-day average at $1,030 and, if breached, the 200-day average at $810. The upside requires a decisive close above $1,300, with targets at $1,370, $1,500, and possibly a return to the $1,700 range if momentum builds.
While Zcash has held steady after its sharp run, a daily close outside the $1,050 to $1,370 range will be vital in determining its next direction.
Ethereum (ETH) slips below 100-day average
Ethereum, the world’s second-largest blockchain by market capitalization, is facing renewed selling as its price falls from near $2,800 in September to roughly $2,330. This amounts to a 17% decline. ETH has moved beneath the 100-day average at $2,365, which now stands as an important resistance level, with the 50-day and other short-term averages trending downward.
The 200-day average, near $2,320, is now the last major support. Buyers recently stepped in at $2,280, but repeated tests are weakening this level. The RSI is about 38, nearing oversold conditions and reflecting slack momentum. On the downside, breaking $2,320 could see ETH move toward $2,250, then $2,100, and potentially $1,900—its major floor since August. To reverse course, ETH must reclaim $2,460 and ideally $2,550 in the short term.
| Level | Ethereum Value |
|---|---|
| Current Price | $2,330 |
| Support | $2,320 (200-day MA), $2,250, $2,100, $1,900 |
| Resistance | $2,365 (100-day MA), $2,460 (50-day MA), $2,550 |
