The crypto market remains broadly bullish, although momentum is becoming increasingly uneven as some assets consolidate or correct after September’s strong gains.
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Near Protocol continues to show one of the strongest momentum structures among major altcoins, with the token trading around $5.27 after briefly reaching approximately $5.47. The latest advance extends a dramatic September rally that has lifted NEAR by well over 100% from its August trading range.
The fundamental backdrop has also strengthened. The launch of Bitwise’s spot NEAR ETF on NYSE Arca on September 29 has provided another catalyst for the move, while growing activity around NEAR Intents and the network’s AI-focused narrative continue to attract attention.
Technically, however, NEAR is becoming extremely extended. Price has moved almost vertically from the $2.40-$2.60 region and now trades far above every major moving average shown on the daily chart. The short-term moving average has climbed toward $3.80, while the longer averages remain considerably lower. This separation confirms the strength of the trend, but also increases the probability of violent corrections.
It remains close to the 70-75 region, after spending considerable time in overbought territory during the rally. Importantly, NEAR has nevertheless continued producing higher highs and higher lows, meaning there is no confirmed trend reversal yet.
The immediate resistance sits around $5.40-$5.50, where several recent candles have encountered selling pressure. A convincing daily close above this area would remove the latest local ceiling and potentially expose $6.00 as the next psychological target.
Hyperliquid has entered a meaningful correction after its September rally pushed the token toward $97-$98. HYPE is currently trading around $86.14, placing it almost 12% below the recent peak and directly around an important short-term support area.
The broader trend remains constructive. HYPE’s September breakout carried the asset from roughly $57 to almost $100, while price continues to trade above its medium- and long-term moving averages. Hyperliquid has also retained substantial fundamental activity as one of the largest decentralized perpetual-futures venues, although recent reports point to large-holder selling as an additional source of short-term pressure.
The immediate problem is momentum. After reaching the $97 region, HYPE failed to attack the psychologically important $100 level and instead produced a sequence of lower highs. The latest daily candles have pushed price through $90 and toward the rising short-term moving average around $85-$86.
RSI has simultaneously fallen toward the neutral area after previously approaching overbought territory. That cooling is not necessarily bearish by itself: it removes some of the excess accumulated during the rally. However, buyers now need to defend the current region.
HYPE therefore remains inside a broader uptrend, but unlike NEAR, its immediate momentum has turned corrective. The reaction around $85-$86 should determine whether the current decline develops into a deeper retracement or simply resets momentum after September’s expansion.
Ethereum is consolidating around $2,700 after one of its strongest upward moves in months. ETH currently trades near $2,702, having recently reached approximately $2,800 before encountering resistance. Despite the rejection, the daily chart continues to show a substantially stronger structure than during the summer.
The key change occurred when ETH escaped the prolonged $1,850-$1,950 consolidation. The breakout produced an almost immediate move through $2,200, followed by another expansion toward $2,500. Importantly, volume increased sharply during these advances, giving the breakout considerably more confirmation than the relatively low-volume trading that preceded it.
Ethereum has since established another range between approximately $2,650 and $2,800. That consolidation is significant because sellers have so far failed to force ETH back into its previous $2,400-$2,500 trading area.
Momentum also remains relatively healthy. RSI has cooled from overbought levels and currently sits around the upper-50s to low-60s. Instead of collapsing alongside RSI, ETH has maintained most of its gains. This suggests momentum has reset without a corresponding breakdown in price structure.
For another expansion, Ethereum needs to reclaim $2,750-$2,800. A daily close above $2,800 would establish a new local high and potentially open the path toward the psychological $3,000 level.
Conversely, losing $2,650 would expose $2,600 and potentially the stronger $2,450-$2,500 support area. For now, however, ETH’s consolidation resembles a pause following the breakout rather than a confirmed reversal.
XRP is trading around $1.52 following a volatile September that completely changed its medium-term technical structure. After spending August close to $1.00, XRP exploded toward $1.55, corrected toward $1.30 and subsequently recovered to a September high around $1.65.
One of the most important developments is the break above the descending resistance line formed after the initial September spike. XRP spent several weeks producing lower highs beneath that trendline before breaking through it during the latest advance. Price has remained above the former resistance despite pulling back from $1.65.
The moving-average structure has improved substantially as well. XRP now trades above every major average displayed on the daily chart. The fastest moving average has risen toward $1.44, while the medium-term averages cluster around $1.35-$1.38. That creates several layers of support below the current market price.
RSI sits around the mid-50s after previously moving into overbought territory during the initial September breakout. This is broadly neutral: XRP no longer carries extreme momentum, but RSI also does not indicate significant bearish pressure.
The immediate battle is around $1.50. XRP has repeatedly tested this region during recent sessions, making it an increasingly important short-term pivot. Holding above it would preserve the possibility of another attempt at $1.55-$1.60, followed by the recent $1.65 high.
The bearish scenario begins with a sustained loss of $1.50. That could send XRP toward $1.44-$1.45, followed by the stronger $1.35-$1.40 region. XRP therefore retains a bullish broader structure, but unlike the initial September surge, the next leg higher requires buyers to prove they can defend $1.50 and overcome the substantial supply accumulated between $1.55 and $1.65.
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