Stellar, NEAR, Filecoin Price Analysis: 01 March

While overall sentiment saw a rapid improvement in the last 24 hours, Stellar and NEAR’s RSI eyed to test its overbought levels before facing a slight pullback. On the other hand, Filecoin’s Supertrend continued to be in the green zone while flashing high volatility in the near term.

Stellar (XLM)

After recovering from its January lows, the alt saw impressive gains by rising above all its EMA Ribbons. However, since the sellers accelerated their force at the $0.2464-level, XLM descended in a down-channel (yellow).

After losing over 37% of its value, XLM plunged towards its 13-month low on 24 February. During this phase, the 20 EMA continued to display a strong resistance. Over the last five days, XLM was up by 21% and broke out of its down-channel. Also, the bulls kept testing the $0.19 resistance while marking higher troughs. This trajectory revealed increasing bullish influence. Any close above this resistance could propel a test towards the $0.209-mark.

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

Near protocol (NEAR)

Source: TradingView, NEAR/USDT

Since its ATH on 15 January, NEAR lost 62.83% of its value and rushed toward its 11-week low on 24 February. Moreover, it lost its crucial $10.9-level resistance (previous support).

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NEAR witnessed an ascending channel (white) breakdown on its 4-hour chart. This fall 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. With over 29.6% gains in the last four days, it reclaimed lost $9.5-support and displayed a bullish edge.

At press time, the alt was trading at $9.752. After plunging to its record low, the RSI saw exponential growth as it eyed to test its overbought level. Nevertheless, the ADX stood quite weak and depicted a rather fragile directional trend for NEAR.  

Filecoin (FIL)

Source: TradingView, FIL/USD

FIL bears initiated a steep downturn after breaking down from the up-channel (yellow). With this fall, the alt matched its January lows and ensured the oscillation range of $16-$25 since the past month. 

Over the last few days, FIL saw an up-channel recovery that bagged in 28.08% ROI in the last five days. Meanwhile, the Supertrend continued to flash a buy signal. The immediate testing support now stood at the lower trendline of the up-channel.

At press time, FIL traded at $21.38. After dropping from the overbought region, the RSI headed to test its trendline support. Any close below 58-level support would be detrimental for the bulls. Also, the Squeeze Momentum Indicator continually flashed grey dots. Thus, still entailing a high volatility phase.