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Stellar, NEAR, Filecoin Price Analysis: 01 March

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Source: Canva


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)

Source: TradingView, XLM/USD

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.

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).

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.

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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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