Foreign media market commentators noted that the crypto market in early June did not show a unified direction, with funds flowing more concentrated in a few strong assets. XRP and ADA continued to be under pressure after breaking through key support levels, while ZEC and NEAR maintained relatively strong performance, but the risk of volatility after their rapid rise is also increasing.
XRP and ADA lost key positions
The article argues that after XRP broke below the $1.28 to $1.30 range, its previous consolidation structure was disrupted, and sellers regained control. Its price has fallen below the 50-day, 100-day, and 200-day moving averages, and trading volume increased during the decline, indicating that this pullback is not a short-term fluctuation.
According to the article, for XRP to alleviate its current weakness, it first needs to regain the $1.30 area. If the rebound fails to break through, significant resistance may still form around $1.35 to $1.45, making it difficult to eliminate downward pressure in the short term.
ADA's situation is similar to XRP's. The article states that after breaking below the support zone established since February, ADA's price further declined to around $0.21, also trading below key moving averages. Multiple rallies over the past few months have failed to break through downward resistance, further strengthening the bearish structure.
The author believes that ADA needs to recover to the $0.24 to $0.25 range before it can improve its current trend. If it fails to return to this area, market funds may continue to flow to stronger-performing assets.
ZEC and NEAR maintain a relatively strong position.
Unlike the previous two, ZEC is still considered one of the stronger performing cryptocurrencies recently. The article mentions that ZEC rose from below $250 in April to above $600. Although it entered a period of high volatility and consolidation after approaching $700, it continued to find support at higher levels during the pullback.
The article points out that ZEC's 50-day moving average is around $556, and its 100-day moving average is around $485; these two levels are considered important support areas. As long as the price continues to hold above $550, the market may retest previous highs.
NEAR is another strong asset mentioned. The article states that NEAR started its rapid rise in early May, with an increase of over 100% within a few weeks, breaking through the $3 mark. During this period, trading volume increased significantly, indicating high buying participation.
However, NEAR's rapid rise has also raised signs of short-term overheating. The article mentions that its Relative Strength Index (RSI) has risen above 75, which typically indicates that the market may be entering a consolidation phase or experiencing profit-taking. The $2.70 to $3.00 range has therefore become a key area to watch; if it can stabilize above this range, the breakout structure is likely to remain intact.
Market divergence continues
The article argues that the current market is more like a divergence where "the strong get stronger and the weak get weaker," rather than a synchronized rise or fall across the board. XRP and ADA share the problem of losing key support, having weak rebounds, and maintaining a bearish structure for several months.
In contrast, ZEC and NEAR continue to attract buying interest, but their strength does not mean they are without risk. ZEC is currently consolidating after a significant rise, while NEAR faces short-term overheating pressure and is more likely to experience fluctuations or pullbacks in the future.
Overall, the core judgment of this commentary is that current funds are concentrated on a few assets with clear trends, and market selectivity has increased significantly.
