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Ethereum, NEAR, EOS Price Analysis: 25 January

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While broader sentiment still refrained from changing, Ethereum and EOS gravitated toward their multi-month/yearly lows on 24 January. Now, their near-term indicators hinted at decreasing selling power, but they still needed increased volumes to propel a sustained rally.

On the other hand, NEAR kept declining after striking its ATH on 15 January.

Ether (ETH)

Source: TradingView, ETH/USD

Following the market-wide fallout on 21 January, ETH bulls failed to step in and defend the crucial $3,000-mark support (now resistance). ETH registered a 33.84% loss (from 20 January high) and touched its six-month low on 24 January.

The recent falling wedge (yellow) breakout halted at the $2,550-mark. Since then, the 20 SMA (red) stood as a strong barrier for the bulls.

At press time, ETH was trading at $2,381.5. Following the broader sell-off, the RSI saw a 43 point plunge until it hit its 22-month low on 22 January. Then, it bounced back but still struggled to cross the 44-mark resistance. Also, the MACD confirmed the bearish vigor, but its histogram found a close above the equilibrium. This reading hinted at the decreasing bear influence.

Near Protocol (NEAR)

Source: TradingView, NEAR/USDT

NEAR defied the broader market trajectory by being on an uptrend since early December. The alt saw a staggering 56.7% ROI (from 10 January low) and marched toward its ATH at $20.597 on 15 January. 

Since then, it lost 53.83% of its value while losing the vital $13.2-level resistance (previous support). With the gains over the past day, Bulls created a near-term demand zone (rectangle, green) for the alt. Now, the immediate hurdle for them stood at the $10.9-mark.

At press time, the alt traded at $10.364. After plunging to its record low at 18.4, the RSI saw a solid revival in the past three days. A sustained close above 33.9 would further open up a recovery possibility. Interestingly, the OBV still maintained its support that upheld higher prices over the past month. This reading displayed a potential comeback possibility for the bulls. Besides, the Squeeze Momentum Indicator hinted at a near-term low volatility phase.


Source: TradingView, EOS/USDT

As the sellers stepped in at the $2.9-zone, EOS plunged into a down-channel (white). Then, the patterned breakout was short-lived with the broader fallout as EOS marked a 30.41% decline and touched its 22-month low on 24 January. Now, the immediate testing point for the bulls stood at the $2.28-mark

At press time, EOS traded at $2.188. The RSI chose the bears but slightly improved as it rose from the oversold region. Further, the AO asserted a bearish bias, but it flashed green bars, pointing at the decreasing selling power. Although CMF improvedit still needed to close above the zero-line to confirm a strong recovery.


With a background in financial analysis and reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.
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