Near price has been following the trend of the largest altcoin and surged to its annual peak of $0.50 in the previous week. However, the price has slipped by 50% since and the current value of Near was $0.73.
This falling value of the digital asset has given way to a more bearish trend. As volatility remained high, selling pressure has also remained high. This was reflected in relative strength index moving towards the oversold zone. This hinted at an extended period of bearishness.
Like Bitcoin, SCUSDT was also falling. The digital asset noted a peak at $0.0333 on 16 April before it witnessed a correction. Although the correcting price found support at $0.058, the following pressure from the alts pushed the price even lower.
The SCUSDT price has continued to trend lower and hit support at $0.024 and bounced back. Currently, it was trading in a bearish market at $0.357, with high volatility. Meanwhile, it was moving away from the equilibrium zone and toward the oversold zone. As the bearishness persists, the coin may face a difficult time making back up.
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