Several major cryptocurrencies including XRP, Chainlink (LINK), Near Protocol (NEAR), and Zcash (ZEC) are currently testing critical support levels after significant declines from their recent highs, with market activity slowing and investors watching for clear signals of reversal or further weakness.
XRP hovers at moving average after decline
XRP is trading near $1.346, finding support at the $1.34 moving average following a drop of about 19% from late September’s peak around $1.66. This level has been defended in recent sessions with small lower wicks near $1.31, indicating buyers stepping in to prevent deeper losses.
On the resistance side, the black moving average near $1.38, blue near $1.39, and cyan at $1.42 now form a zone after being lost in early October. A reversal for XRP would need a daily close above $1.39, while continued sideways trading reflects waning trading activity and muted volatility.
XRP has struggled to break through resistance between $1.38 and $1.42, and volume has steadily declined since August, keeping trade momentum limited.
The neutral relative strength index (RSI) near 45 and the fading participation point to an uncertain outlook; for now, XRP remains vulnerable unless buyers can regain lost ground above the $1.39 level.
Chainlink edges lower as support weakens
Chainlink trades close to $12.46, down approximately 21% from its late-September high near $15.75. The token sits atop short-term moving averages around $12.45, levels which previously underpinned the September rally. However, fading volume and lower highs recorded at $14.30, $13.50, and $13.10 suggest weakening upward momentum.
Recent wicks to $12.05 and $12.20 show attempts at support, yet the subsequent bounces have been subdued. A daily close below $12.05 could trigger a move towards $11.40 and potentially $10.85, the latter coinciding with the 200-day average and mid-September lows. Conversely, reclaiming $13.10 is crucial for any recovery, setting $13.50 and $14.00 as possible next targets.
While Chainlink remains up about 50% from its August base near $8.20, current conditions point to consolidation rather than a bullish continuation.
| Asset | Current Price | % Drop from High | Key Support | Key Resistance |
|---|---|---|---|---|
| XRP | $1.346 | 19% | $1.34 | $1.39 |
| LINK | $12.46 | 21% | $12.05 | $13.10 |
| ZEC | $1,199 | 30% | $1,190 | $1,285 |
| NEAR | $4.94 | — | $4.65 | $5.20 |
Zcash tests crucial support after steep fall
Zcash is currently priced near $1,199, down roughly 30% in less than three weeks from its late September high near $1,700. The token sits just above its blue moving average at $1,190, a level that has previously prompted minor rebounds from lows of $1,115 and $1,120. However, each attempt to rise has stalled, with buyers unable to push past resistance at $1,230 and $1,285.
Volume has dropped significantly compared to the September rally, and the RSI holds around 45, indicating cooling momentum. Should $1,190 fail to hold, the next line of defense is the orange moving average at $990, about 17% lower.
A daily close above $1,285 would be seen as the first concrete sign that Zcash’s downward slide has ended, whereas a break below $1,190 points towards $990 as the next target.
Despite the recent decline, ZEC has more than doubled from its August base near $500, with longer-term moving averages still trending upwards. The coin faces a key moment, with falling volume suggesting the next significant move is imminent.
NEAR retraces after strong rally, holds support
Near Protocol, a proof-of-stake blockchain focusing on scalability and user experience, is trading around $4.94 after being rejected from the $6.00 level on October 12. The price had tripled from its August base near $1.60 before the reversal.
Buyers are currently watching short-term support near $4.65, followed by $4.30 and $4.00. A daily close below $4.30 would break the sideways range established since late September, potentially pushing price closer to $4.00. On the upside, $5.20 remains a significant hurdle; surmounting this could reignite bullish sentiment towards $5.60 and $6.00.
Technical levels such as $3.95, $3.60, $3.20 and $2.60 have acted as moving average supports during NEAR’s substantial rally, but the asset now faces a normalization period after its rapid gains.
Mini dictionary: Near Protocol is a decentralized smart contracts platform designed for speed, security, and scalability, using sharding technology to process transactions efficiently and lower costs compared to traditional blockchains.
