Stellar, Filecoin, NEAR Price Analysis – March 1, 2022

Stellar and NEAR had their RSI targeting overbought regions before retracing. That comes after the global market sentiment witnessed a swift improvement within the past day. Meanwhile, Filecoin’s SuperTrend remains positive while displaying increased volatility in the short term.

Stellar (XLM)

XLM saw remarkable gains following January’s recovery, climbing past the EMA Ribbons. Nevertheless, sellers dominated at $0.2464, translating to downtrends within a plunging channel. Meanwhile, the alt dropped to 13-month lows on February 24 after a more than 37% decline. The 20 exponential moving average displayed a massive resistance during this period.

The past five days saw XLM gaining 21% to overcome a downward channel. Moreover, bulls kept retesting the resistance at $0.19 while printing higher troughs. Such developments suggested surging bullish influence. A close past this resistance might propel KSM towards $0.209.

XLM traded near $0.198 at this publication. The positive RSI climbed in an upside channel and hiked past the 59-level. For now, the indicator will likely hit the overbought area before pullbacks.

Near Protocol (NEAR)

NEAR dropped 62.84% of its price since its January 15 ATH, rushing towards 11-week lows on February 24. Furthermore, the alt lost the critical level at $10.9. Near Protocol saw an ascending channel breakdown on the 4hr chart. The decline printed a massive bearish trend-line support.

Though the horizontal support at $7.6 matched the trend-line foothold, NEAR picked ups from $7.6. Meanwhile, more than 29.6% gains over the past four days had the token reclaiming the lost support at $9.5, highlighting bullish moves.

While writing this blog, NEAR traded at $9.752. The RSI witnessed a remarkable growth after dropping to record lows, eyeing a retest of the overbought area. However, the ADX remained somehow weak and displayed fragile directional bias.

Filecoin (FIL)

Filecoin bears triggered a massive drop after overcoming an upward channel. The fall had FIL matching January lows and kept the $16 to $25 oscillation range over last month.

The past few days had Filecoin on an upward channel recovery that registered 28.08% ROI within the previous five days. Meanwhile, the SuperTrend still flashes buy signals. The nearest testing support stands at the up channels lower trend-line.

Filecoin traded around $21.38 at this publication. The Relative Strength Index is about to test the trend-line support after plummeting from the overbought area. A close beneath 58-area would trouble bulls. Moreover, the Squeeze Momentum Indicator (SMI) continually displayed grey dots, highlighting high volatility.

By Edward Richardson
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