Foreign media analysis suggests that the crypto market saw some overall recovery on May 28, but the divergence in strength among major tokens remained significant. NEAR performed the strongest, driven by AI-related narratives, while Bitcoin, DOGE, and XLM remained within their respective resistance zones.
Bitcoin encountered resistance below $82,000.
The article argues that after rebounding from its February lows, Bitcoin initially showed signs of recovery, but the rally stalled around $81,000 to $82,000. This level corresponds to the declining 200-day moving average, which has become a significant resistance level for the recent rebound.
From a technical perspective, Bitcoin has fallen back below its short-term moving averages, and the upward trend line that supported the rebound since April has also been breached. The article mentions that if buying pressure fails to regain a foothold above $82,000, the price may retest the $73,000 to $74,000 area; if this support level is breached, the market may further decline to the upper edge of the $60,000 range.
NEAR rallied, driven by AI-related themes.
Compared to Bitcoin, NEAR's chart pattern is stronger. The article states that the token had previously traded sideways between $1.2 and $1.6 for an extended period before breaking out with increased volume and regaining its position above the 200-day moving average and other key moving averages.
Foreign media believe that this surge is not only supported by technical factors, but also related to the market's recent shift towards AI-related crypto projects. NEAR, with its positioning as an AI infrastructure, cross-chain execution tool, and user-defined AI messaging product, is seen by some traders as an AI-themed asset, rather than just a regular public blockchain token.
After breaking through $1.65, NEAR's upward momentum accelerated. The article also cautions that after a significant short-term rise, the price has deviated noticeably from the moving average, and the Relative Strength Index (RSI) has entered a high level, suggesting a possible period of consolidation. A pullback to around $2.1 to $2.2 would not disrupt the current upward trend.
DOGE and XLM remain weak and are consolidating.
The article states that after encountering resistance around $0.30, DOGE has continued to decline over the past few months and is currently still below its 200-day moving average, indicating that the medium-term trend has not yet reversed. However, since February, it has gradually formed a bottom around $0.09 to $0.10, and the decline has slowed somewhat.
DOGE briefly broke through $0.11 in May and stood above the short-term moving average, but momentum subsequently weakened, and it returned to consolidate near the area where moving averages converge. The article suggests that if support near $0.10 is breached, the price may retest $0.09; if buying volume increases again and $0.11 is recovered, the next resistance level to watch is the 200-day moving average near $0.12.
In contrast, XLM's structure is weaker. The article points out that the token has consistently hit lower highs and lower lows since the end of 2024, remaining under pressure below major moving averages. The recent rebound from around $0.14 has been limited, with no significant increase in trading volume and no signs of sustained strengthening in buying interest.
The article also mentions that XLM currently lacks sufficiently strong speculative drivers. While Stellar still has applications in cross-border settlement and payment infrastructure, the market is currently more inclined towards AI-related projects, highly volatile meme assets, and ecosystems with faster user growth. If it cannot regain the $0.16 to $0.17 range, XLM will likely remain range-bound and in a larger downtrend.
