Near Protocol (NEAR) has broken above the psychological $2 mark, signaling a potential bullish reversal, while XRP remains trapped below key moving averages. Meanwhile, Dogecoin (DOGE) and Shiba Inu (SHIB) continue to languish in downtrends, though selling pressure appears to be easing. The diverging paths highlight a market where select altcoins are showing strength while others struggle to gain traction.
NEAR Shows Strength Above Moving Averages
NEAR has climbed above its 50-day, 100-day, and 200-day moving averages after weeks of consolidation between $1.80 and $2.00. The daily chart shows the asset bounced from support near $1.80, which aligns with the 200-day moving average, and buyers have steadily pushed the price higher. While trading volume remains relatively low compared to the May rally, the fact that NEAR is holding above all major trend indicators suggests improving market structure. The next resistance sits around $2.10, where the 100-day moving average is providing a ceiling. A clean break above that level could open the door to $2.30 and beyond. The relative strength index (RSI) has risen above 50, indicating that bullish momentum is building.
XRP's Recovery Stalls Below Resistance
XRP is trading at $1.09, still below its 50-day, 100-day, and 200-day moving averages despite a modest recovery attempt. A cluster of descending moving averages between $1.11 and $1.15 continues to act as formidable resistance, rejecting each recent rally before a trend reversal can materialize. The chart shows a series of lower highs and lower lows since the June breakdown, and while the asset has not made new lows recently, buyers lack the momentum to challenge the $1.15 resistance zone. The RSI sits at a neutral 47, reflecting indecision. For XRP to improve its outlook, it needs to establish support above $1.12 and reclaim the 50-day moving average. Until then, the asset remains in a corrective phase.
Memecoins: Downtrends Persist, but Selling Pressure Fades
Both Dogecoin and Shiba Inu are stuck in well-established downtrends, trading below key moving averages and struggling to generate buying pressure. SHIB is particularly challenged, trading at $0.0000042 after failing to maintain a rising wedge pattern earlier this year. The token remains below its 50-, 100-, and 200-day moving averages, with each local breakout met by fresh selling pressure. Volume has continued to decline, suggesting low market participation. However, the RSI near 36 is approaching oversold territory, which has historically preceded relief rallies. Still, SHIB faces a stacked resistance zone, with the 50-day EMA above the current price and the longer-term moving averages even higher. Dogecoin sits well below critical indicators, with lower highs forming on the chart. The RSI has recovered from oversold levels but remains far from signaling a bullish reversal. Both DOGE and SHIB are no longer seeing aggressive capitulation, but neither is attracting significant capital inflows. They appear to be in a state of exhaustion where selling pressure has decreased but demand remains insufficient. DOGE needs to reclaim the $0.076 area, while SHIB must retake $0.0000045 to suggest a potential trend change.