As the broader market slumped to the $1.6 billion mark at press time, long-term HODLers tried to lock in the boosted selling situation. Consequently, Cardano and NEAR fell below their 20/50/200 EMA while hitting their multi-month lows on May 8th.

On the other hand, Tron’s 4-hour RSI, unlike its alt peers, hovered above the middle line as the alt entered a low volatility phase.

Gimbal (ADA)

After the bears found renewed selling pressure at the $1.1-$1.2 resistance range, ADA restored its breakout phase and fell below its 4-hour level. 20/50/200 EMAs. Meanwhile, this descent marked a 41.07% retracement over the past 33 days.

The May 5 sell-off spurred a series of bearish engulfing candlesticks that took ADA to a 15-month low on May 8. As the sellers assumed immediate control of the trend, the bulls needed to step up their efforts to push trading volumes higher.

At press time, ADA was trading at $0.7454. the IRS has been on a strong downtrend for the past three days. Its one-week lows revealed a bullish divergence with the price. Thus, a recovery from its current levels was plausible in the time ahead. But with the CME plunging below zero, buyers had to significantly up their game to alter the current bearish outlook.

Tron (TRX)

Source: TradingView, TRX/USDT

After breaking off from the $0.06 support, TRX made impressive progress on its chart. Higher lows as well as sustainable highs beyond the 38.2% and 50% Fibonacci levels generated some much needed gains for the alt.

Then, as the price approached its multi-week trendline resistance (yellow, dotted), the alt quickly turned against it while crashing out of the bullish channel. With the 61.8% level stable, TRX struggled to extend its recovery. Now, as the price has fallen from the upper band of the Bollinger Bandsthe alt has lost its baseline support (green) as the sellers regain their edge.

Near Protocol (NEAR)

Source: Tradingview, NEAR/USDT

While the ongoing narrative for NEAR was visibly skewed in favor of the bears, sellers have found cooler ground to rest on over the past few weeks.

With the bears steadily monitoring the alt peaks and troughs, NEAR has lost nearly half of its value from its multi-week April highs. With the 20 EMAs continuing on its southerly course, NEAR struggled to maintain the Checkpoint (red).

At press time, NEAR was trading at $10.247. Echoing other alts, NEAR’s IRS saw slight improvements after drifting into the oversold region. Going forward, a close above the 35 mark would expose the alt to a stronger comeback.