Stellar, NEAR, Filecoin Price Analysis: March 01

While general feeling saw a rapid improvement over the past 24 hours, Stellar and NEAR’s RSI wanted to test its overbought levels before facing a slight pullback. On the other hand, Filecoin’s Supertrend remained in the green zone while showing high short-term volatility.

Stellar (XLM)

Source: TradingView, XLM/USD

After recovering from its lows in January, the alt posted impressive gains above all of its . to ascend EMA Ribbons† However, as the sellers accelerated their strength at the $0.2464 level, XLM fell in a down channel (yellow).

After losing more than 37% of its value, XLM plunged to its 13-month low on Feb. 24. During this phase, the 20 EMA continued to show strong resistance. In the past five days, XLM was up 21% and broke out of its down channel. Also, the bulls continued to test the USD 0.19 resistance as they marked higher troughs. This trajectory revealed an increasing bullish influence. Any close above this resistance could propel a test towards the $0.209 level.

As of going to press, XLM was trading at $0.198. The bullish RSI moved in an up channel and jumped above the 59 mark. Now it will most likely try to test the overbought mark before a pullback.

Near protocol (NEAR)

Source: TradingView, NEAR/USDT

Since the ATH on January 15, NEAR has lost 62.83% of its value, rushing to its 11-week low on February 24. In addition, it lost its crucial resistance at $10.9 (previous support).

NEAR witnessed a rising (white) breakdown of the channel on the 4-hour chart. This drop formed a strong bearish trendline support (yellow, dashed). While the $7.6 horizontal support coincided with the trendline support, NEAR picked itself up from the $7.6 level. Gaining over 29.6% in the past four days, it regained the USD 9.5 support and showed a bullish edge.

As of going to press, the alt was trading at $9,752. After hitting rock bottom, the RSI saw exponential growth as it sought to test its overbought level. Nevertheless, the ADX was quite weak and reflected a rather fragile directional trend for NEAR.

File Currency (FIL)

Source: TradingView, FIL/USD

FIL bears started a steep decline after breaking up the upstream channel (yellow). With this fall, the alt matched its January lows, driving the $16-$25 oscillation range since last month.

Over the past few days, FIL saw an up-channel recovery delivering 28.08% ROI over the past five days. Meanwhile, the super trend continued to give a buy signal. The immediate test support was now on the lower trendline of the up channel.

At the time of writing, FIL was trading at $21.38. After a decline from the overbought region, RSI on track to test trendline support. Any support below 58 would be detrimental to the bulls. Also the Squeeze Momentum Indicator continual glittering gray dots. So still a high volatility phase.

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