- PONKE’s price drop below $0.46630 suggests potential trend reversal if it fails to regain support.
- SEI’s breakdown below $0.3300 and testing lower support signals ongoing bearish momentum.
- NEAR’s head and shoulders pattern indicates further downside potential as it trades below key moving averages.
The cryptocurrency market is currently experiencing notable volatility with key developments in the charts of PONKE, SEI, and NEAR as per analysis by Nebraskangooner. Each of these assets exhibits distinct trends and significant levels that could influence their future movements.
As per the analysis, PONKE has reached a critical juncture in its price trajectory. The chart indicates a pronounced downtrend characterized by lower highs and lower lows within a descending channel. Recently, PONKE fell sharply below this channel, signaling heightened selling pressure.
The primary support level to watch is approximately $0.46630. The chart’s annotation suggests that losing this support could trigger a trend reversal, making it a crucial level for market participants. Resistance levels are identified in the $0.58000 to $0.64000 range, where the price repeatedly tested these upper boundaries before pulling back. This resistance signifies strong seller activity.
Despite a generally upward-moving orange line representing the moving average, the price has dipped significantly below it, potentially indicating a short-term correction against the long-term trend. At press time, PONKE is trading at $0.456084, with a 24-hour trading volume of $24,640,870 and a 2.93% decline in the last 24 hours.
SEI presents another critical breakdown scenario. The overall trend remains bearish, supported by the downward slope of moving averages. Recently, SEI has witnessed a substantial price decline, breaching important support levels.
The chart highlights resistance around the $0.3300 mark, where recent attempts to rally have failed. As per Nebraskangooner’s analysis, SEI is testing support levels between $0.2935 and $0.2700, as marked by a green rectangle. This area could be pivotal if buyers choose to step in.
Additionally, the formation of a potential descending triangle pattern on the chart suggests continued bearish momentum. The price has broken down from the horizontal support line at $0.3300, now exploring lower support zones. The SEI price at the time of writing is $0.292581, with a trading volume of $79,740,195, reflecting a 7.46% drop over the past day.
Altcoins Set for Major Surge: Analyst Bullish Prediction Ahead of FOMC MeetingNEAR is also on a downward path as the overall trend remains bearish, underscored by the recent peak followed by a downward trajectory. The moving averages, presumably the 50-day and 200-day, show bearish momentum with the price trading below these averages. Resistance is evident around the $5.500 level, where the price attempted a rally but faced rejection. Support is being tested between $4.500 and $4.200. The chart reveals a head and shoulders pattern, a classic bearish reversal signal.
The price has broken down from the neckline, suggesting further downside potential. As of the reporting time, NEAR Protocol is valued at $4.85 with a trading volume of $280,183,200, experiencing a 5.18% decline in the last 24 hours.
