The cryptocurrency market is witnessing renewed pressure as Near Protocol (NEAR), Stellar (XLM), Chainlink (LINK), and Cardano (ADA) all broke key support levels, extending recent losses and signaling limited prospects for a quick rebound. These assets have closely tracked the broader market downtrend, which accelerated after failed recovery attempts by leading cryptocurrencies earlier in the month.
Near Protocol drops under technical support
Near Protocol has mirrored the prevailing negative sentiment in the digital asset space, slipping below several critical support zones with minimal signs of stabilization. NEAR is currently trading close to $3.39 after losing its short-term moving average indicator. Technical analysis suggests that a recovery is unlikely before the price approaches the 200-day exponential moving average, which sits near the $3 mark.
Despite the latest losses, NEAR has managed to stay above the 200 EMA, which originally turned into support following a rally back in May. However, all recent upward moves have been reversed, and trading volume is showing a clear decline, adding to the weakness across the board.
Momentum indicators, particularly the Relative Strength Index (RSI), are now approaching oversold territory. While an oversold RSI can sometimes precede a price bounce, analysts note that confirmation would require the return of higher highs and sustained buying interest.
“The RSI is also in a weak position and may soon reach oversold territory. This could leave room for a recovery sooner than expected, though a test of the aforementioned 200 EMA remains the main scenario. An oversold reading alone wouldn’t guarantee that.”
Stellar and Chainlink hit new lows amid weak demand
Stellar’s price action has been similarly muted, with XLM falling to $0.14. This level marks a retreat to a previous accumulation point observed in May, highlighting the asset’s inability to sustain gains. The lack of a market-wide catalyst and continued bearish RSI readings suggest that a reversal remains unlikely in the near term.
XLM’s moving averages are showing signs of greater divergence, typically a sign that the downtrend could persist. Should these averages converge in the future, traders anticipate a potential spike in volatility which might offer short-term recovery opportunities.
Chainlink’s recent breakdown has been even more pronounced. LINK is trading at approximately $9.89 after dropping below the $10 level and surrendering its 200-period moving average. The next technical support resides near $8.20, and if breached, could pave the way toward $7 and threaten to undo gains accumulated since June.
Volatility remains high for LINK, and with sellers still dominating, price swings could intensify unless clear signals of renewed buying emerge. The RSI approaches oversold territory, but analysts highlight that recovery will depend on broader liquidity returning to the market.
Cardano tests multi-month lows as sellers maintain control
Cardano trades in line with other major altcoins, recently breaking below strong support at $0.20. ADA is now testing levels around $0.17, with market participants seeing little immediate opportunity for a rebound.
The sell-off places ADA below the midpoint of its June to October recovery, and while the RSI has dipped into oversold conditions, the absence of robust buying interest has limited the chance for a near-term bounce. There has been a modest uptick in trading activity compared to early November, yet this appears to bolster bearish sentiment rather than signaling a reversal.
Despite periodic spikes above the 200-day moving average in recent months, Cardano has been unable to maintain upward momentum. The asset has remained in a broad downtrend since 2025, and analysts remain cautious about predicting a sustainable recovery until clear signs of trend reversal are established.
“Overall, Cardano has been in a downtrend since 2025, so the local spikes we could see from July to October shouldn’t be taken as a guaranteed sign that the asset is recovering. Even though the price previously broke above the 200-day moving average, that wasn’t enough to keep the recovery going.”
For traders tracking these rapid market shifts, the persistent declines in NEAR, XLM, LINK, and ADA highlight the value of real-time monitoring. CryptoAppsy’s smart price alerts and live news tracking allow users to catch important support breaks or technical reversals as they happen, providing tools to stay ahead in volatile trading environments.
