XRP, Chainlink and Zcash hover at key support levels as volume dries up

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.

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.