While Bitcoin struggled to find a close above $40,000, short-term technical data from XRP, Polkadot and NEAR showed a bearish bias. While NEAR has shown signs of improvement, a close below the 20 EMA could trigger a hidden bearish divergence on the 4-hour chart.
Since it has fallen below its long run Checkpoint (red) at $0.77, XRP fell rapidly, reaching its six-month low on Jan. 22. After that, the bulls stepped in to defend the 10-month support at $0.56.
Consequently, with a 67.4% rebound since then, XRP reversed the EMA ribbons to the bullish side. Since then, the alt has gradually declined as it witnessed a trendline resistance (now support) (white, dashed) on its 4-hour chart.
For the past few days, XRP has seen an up-channel (white) helping the alt find a close above its 200 EMA (green). Now the immediate resistance was near the POC while the trendline support offered strong support.
At the time of writing, XRP was trading at $0.7578. After testing the midline several times in the past day, RSI was weak at the 46 mark. It marked a descending triangle and revealed a bearish edge. Furthermore, the south direction CMF took a steep plunge last day as it reaffirmed the increased bearish influence.
Polka Dot (DOT)
Since his ATH last year, DOT bears stopped the bulls from taking the driver’s seat. The alt fell more than 74% (as of Nov. 4) when it fell to its seven-month low on Feb. 24.
The recent bullish rally marked an up channel as the alt aimed to 20 EMA (red). For the past few days, the alt has broken its four-month trendline resistance and flipped to support. With the bears still refraining from giving up their lead, further retracements should find a base near the $16 zone.
At the time of writing, the DOT was trading at $17.21. The RSI struggled to keep herself above balance. So it was aimed at retesting the 40-mark support and showed a bearish bias.
Near protocol (NEAR)
Since its ATH, NEAR has lost more than half its value and plunged to its 11-week low on Feb. 24. In addition, it lost its crucial resistance of $10.9.
After a steep breakout in the pattern, NEAR held onto its trendline support as it plunged towards the $7.6 level. Thereafter, after witnessing an inverted head and shoulders on the 4-hour chart, NEAR continued to test the USD 9.5 support. Now the 20 EMA (red) with the upper trendline of the down channel (white) assumed strong resistance.
At the time of writing, the NEAR was trading at USD 10,054. The RSI saw significant growth in the past day. Now a close below the midline would confirm a hidden bearish divergence with the price. Furthermore, the super trend was now supporting short-term sales trends.