With the Crypto Fear and Greed Index showing significant improvements in overall sentiment, NEAR’s 20 SMA jumped above the 50 SMA as it gained support at $13.2.
Also, XRP and MATIC continue their up-channel (reversal pattern) trajectories on their 4-hour charts.
XRP
Source: TradingView, XRP/USDT
Since losing the $1.01 level on November 26, the alt has fallen steadily. Post that, the bears tested the $0.7292 mark multiple times until the January 21st sell-off. After breaking the previous down-channel (white), XRP fell 32.6% (as of January 12) to reach its six-month low on January 22.
With a 22.11% rebound in the past 15 days, XRP has the EMA ribbons to the bullish side. After that, it bounced back from the upper trendline of the channel. Any retracement would find a floor near the ? 20 EMA at the $0.6482 mark.
At the time of writing, XRP was trading at $0.6674. After testing the 55 mark several times, the RSI grew exponentially into the overbought region on February 5. From here, any drop below the immediate support would trigger a retest of the 55 level.
Polygon (MATIC)
Source: TradingView, MATIC/USDT
After hitting its ATH at $2.92 on Dec. 27, MATIC pulled back, registering a drop of 54.24%, reaching its three-month low on Jan. 24. As a result, the fall broke the vital 61.8% Fibonacci support.
MATIC saw a 31.14% ROI in the past 13 days after recovering from its six-month Point of Control (red). So it scrambled back to regain the 78.6% support level but struggled to break above the $1,744 level.
As of going to press, MATIC was trading at $1.71. The RSI steeply up and returned from the overbought region. Although it showed a bullish bias, it fell below the 58-mark level, suggesting diminishing buying influence. Furthermore, the AO histogram entered a red zone as it approached equilibrium, confirming the previous analysis.
Near protocol (NEAR)
Source: TradingView, NEAR/USDT
Since the ATH on January 15, NEAR has lost 53.83% of its value, rushing to its one-month low on January 24. In addition, it also lost its crucial resistance at $11.6 (previous support).
NEAR witnessed a rising channel (white) on the 4-hour chart. Now the immediate hurdle for the bears was $13.2. Also if the 20 SMA (red) crossed the . about 50 SMA (cyan), the bullish influence increased.
At the time of going to press, the alt was trading at $13,461. After hitting rock bottom, the RSI saw a solid rebound in the past two weeks. It still flashed a bullish edge by hovering around the overbought area. Furthermore, the bullish CMF reached its five-month high on Feb. 5, revealing record high cash volumes.
This post XRP, MATIC, Near Price Analysis: Feb 06
was published first on https://ambcrypto.com/xrp-matic-near-price-analysis-06-february/
