The biggest movers are NEAR, which has reached a one-month low, and XMR, which is down 12 per cent.
NEAR extended its big struggles on Wednesday, falling to yet another bottom throughout today's event. The drop in NEAR coincided with a drop in XMR, which dropped to a multi-week bottom. NEAR is among the most significant cryptocurrencies to tumble on thump day, with values falling to another flat early within the long session.
NEAR/USD fell to an immediate minimum of $12.50 on Wednesday after reaching a high of $15.18 on Tuesday.
NEAR fell to its cheapest value since March 27 and is similar to the current level of $12.45.
Despite reaching that level, there must be a sort of recovery, also with the value reportedly hovering at $12.84, about 7% down from Wednesday's peak. This is due to the fact that bulls have traditionally utilised this floor as an entrance point, with a few rallies taking place at this level in the past. Aside from that, the 14-day RSI is presently lingering around a two-month low, which may be another reason for some to be bullish about a possible comeback. XMR was down more than 12% in today's session, although as the day progressed, losses lessened from previous lows.
As of this writing, XMR/USD is trading at $225.58, up from today's intraday low of $224.32. Overall, monero has dropped over the previous six sessions, with today's low occurring less than 24 hours after a high of $243.88. This recent drop knocked prices below the long-term support level of $229.00, bringing XMR to a two-week low. While prices are trading at a multi-week low, the 14-day RSI is at its lowest level since February 26.
If the current trend continues, bears will most likely try to push the price down to the lower support level of $211.00.