DOT and NEAR: Bulls Regain Control
Bitcoin’s volatility hasn’t been enough to discourage buyers on Polkadot and NEAR. These two assets stand out with impressive resilience, posting performances that far outclass the rest of the market.
Polkadot (DOT) is undoubtedly one of the big winners. With a spectacular 18.4% surge since the previous week’s opening, the token has validated a bullish structure shift on the daily chart. This movement has left behind a massive imbalance zone between $1.28 and $1.46, which could serve as support in case of a retracement. Currently, the price hovers around $1.57, driven by a strong narrative around expectations tied to a “halving” type event mentioned by analysts, scheduled in about twelve days. However, caution is warranted as the supply zone at $1.80 remains a credible threat to the rally’s continuation.
Meanwhile, NEAR Protocol is riding the artificial intelligence wave. Boosted by NVIDIA’s record results and enthusiasm for AI tokens, NEAR has recorded a 15.94% gain. Technical indicators are green: the RSI at 55 and a positive Chaikin Money Flow (CMF) signal incoming capital flows. The current price trades around $1.16. If the $1.10 support holds, bulls could target the next major resistance around $1.43.
BCH and PEPE: Is the Correction Over?
The mood is significantly more somber for Bitcoin Cash and PEPE memecoin holders. These two assets have taken the full brunt of selling pressure, erasing part of their previous gains.
Bitcoin Cash (BCH) has been particularly punished, with a brutal 21.1% drop over the week. The price has fallen below the intermediate support of its long-term range, now trading around $448. Technical indicators are clearly bearish, showing seller domination. However, all hope isn’t lost: the token is approaching a historical demand zone between $440 and $460. For swing traders, this could represent a high-risk/high-reward opportunity, with the objective of returning to $580. This scenario would be invalidated by a break below the February 6th low at $423.
As for PEPE, the frog seems to have lost its bounce. After a period of euphoria, the memecoin shows disappointing performance, trapped in a corrective trend. The current price stagnates around $0.00000353, struggling to regain bullish momentum against a dominant Bitcoin. The key support to watch sits around $0.0000034; a break of this level could lead to a visit to recent lows, while reclaiming $0.0000038 would be needed to hope for a reversal.
Should You Buy the Dip or Sell the Bounce?
The divergence between this week’s winners and losers perfectly illustrates the current fragmentation of the crypto market. While DOT and NEAR benefit from specific narratives (Halving, AI), BCH and PEPE are paying the price for degraded technical structure. The crucial question for the coming days is this: Will the $440 demand zone be sufficient to relaunch BCH, or will selling pressure drag it to new lows? For DOT, the ability to break through the $1.80 wall will determine whether this movement is a simple technical bounce or the beginning of a genuine bullish trend.
Don’t miss out on your bonuses: Sign up on OKX and boost your trading.
Related Articles:
