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Near Price Analysis: NEAR Coin Can Bounceback Upto $12 Resistance

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  • The NEAR coin is in an uptrend, around 0.8%, during the intraday trading session.
  • The 24-hour trading volume is at $325 million.
  • NEAR/BTC pair is trading negative by -2.1% at 0.00019131 BTC.
Source: NEAR/USDT on TradingView

Daily technical chart and price trend of NEAR coin is showing an upward trend. Based on the pivot level, the first support zone is 5.70 USDT. From another perspective, if it rushes, the resistance level to watch is 12.0 USDT. Thus, the graph made a bullish harami candle pattern during the day, and the cost is relied upon to remain upwards with unwavering medium force.

The Moving Average Exponential (EMA) Ribbon, comprising of different Ema’s, goes about as solid support in the coin price move. Investors might notice the cost flies above the green ribbon, so it will guarantee an upswing in NEAR until the cost dwells above.

Trading volume (6.02 M) is underneath the 20-day moving average (20.639 M). To put it plainly, the volume is low, making the cost sustain around the pivot levels. Investors can likewise check that the volume bars on the graph are slanting, which demonstrates that exceptional instability is typical in the following trading days.

A stochastic RSI (oversold) with a value of K-9.60 D-14.80 presents a sell signal in the currency. Investors can observe a decline and negative crossover in the index. It can remain in negative territory for future trading days. 

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NEAR Coin Oscillators are Oversold

The Near price today is $ 9.05 with a trading volume of 24 hours of $ 325,169,254. The NEAR price has been 0.8% in the last 24 hours. It has a circulation supply of 460 million near currencies and a total supply of 1 billion. The stochastic RSI points to a selling indication, and the traders have prompted low volume. In fact, the cost is struggling over the pivot regions and proceeds in an upturn. In like manner, with the general market perspective, the pattern stays bearish for coming trading days.

Resistance Level: $12.0

Support Level: $5.70

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NEAR Protocol price analysis: NEAR faces rejection below $9.25 after a bearish attack

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The price has declined up to $9.06 today.
NEAR Protocol price analysis shows bearish return.
Support is rigidly standing at $6.855.
The NEAR Protocol price analysis shows, an unexpected drop in price has been observed during the day, which is why the market is now following a bearish trend. The cryptocurrency is facing loss as the bearish momentum has been able to stop the price from going above $9.26 resistance. The downturn was quite surprising as it was expected that the bulls would soon take the price beyond the resistance level. Yet, a drop in price was recorded today as the price moved down to $9.05.

NEAR/USD 1-day price chart: Price levels drawn back to $9.06 limit after falloff
The price is going down once again as a bearish trend has been confirmed from the one-day NEAR Protocol price analysis. The price had been progressing quite swiftly earlier, as an upward trend was taking over the market. But a significant drop in NEAR/USD value has been observed in the last 24 hours as the price has fallen to $9.06 edge. It is still above the moving average indicator’s (MA) value which is going at $8.436.

NEAR Protocol price analysis: NEAR faces rejection below $9.25 after a bearish attack 1

The drop has restricted the price from going beyond the $9.26 hurdle at present. Furthermore, if we talk about the volatility, then it has been towards the increasing side which is yet another bearish sign. The upper Bollinger band is at $9.258 whereas the lower Bollinger band value is $6.85. The Relative Strength Index (RSI) score has moved down to 60.69 as well.

NEAR Protocol price analysis: Bulls struggle for price stability above $9.05 margin

The four hours NEAR Protocol price analysis is showing signs of bullish recovery as the price underwent a slight improvement. Although a downtrend has been dominating on the price chart, the bulls have been persistently putting in efforts to win back their position. Today, the bulls have succeeded in increasing the cryptocurrency’s value up to the $9.06 mark. It is still below the moving average value which is standing at $9.123 for now.

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NEAR Protocol price analysis: NEAR faces rejection below $9.25 after a bearish attack 2
NEAR/USD 4-hours price chart. Source: TradingView

The volatility has decreased noticeably which means that chances of further recovery may come in the future. The Bollinger bands Indicator is dictating the following values; the upper value is currently at $9.60 whereas the lower value is at $8.35. The RSI score curve is moving up once again as the score is now touching 59.27 in height.

NEAR Protocol price analysis: NEAR faces rejection below $9.25 after a bearish attack 3
NEAR/USD technical indicators chart. Source: TradingView

The overall recovery of NEAR/USD value has been commendable which is why the technical indicators chart is going bullish. There are a total of 14 indicators that are resting at the buying position, nine indicators at the neutral position while three indicators are at the selling position.

The Moving Averages Indicator is showing signs of a strong uptrend as well by giving out a buying signal. We can see 13 indicators on the buying mark, with one indicator each present on the selling and neutral marks. The Oscillators are displaying a neutral trend for the day because of constant fluctuations in price movements. There are eight oscillators at a neutral level, two oscillators at the selling level, and one oscillator at buying level.

NEAR Protocol price analysis conclusion

The price is headed down once again as it has been confirmed from the one day and four hours NEAR Protocol price analysis. The price has followed downward movement today because of the bearish momentum, and the cryptocurrency’s value is now $9.06. But chances of improvement are there as the bullish momentum has recovered in the last four hours.

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NEAR Protocol price analysis: Bulls regain stability at $6.8 after sequential loss

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  • NEAR Protocol price analysis shows bullish momentum.
  • NEAR/USD found support at $6.4.
  • Resistance is found at $7.6.

The NEAR Protocol price analysis shows bullish momentum as bulls took over the bearish trend. Today a major improvement in NEAR/USD price has been observed as bulls denied further degradation of price and provided collateral support for NEAR/USD.

Though the strongest support of $6.6 fell yesterday, and the price went as low as $6.3, but today, the market showed positive sentiment for the NEAR/USD pair, and bulls successfully covered the price range to $6.8 at the time of writing.

NEAR/USD 1-day price chart: Bulls define price function after considerable damage

The 1-day price chart for NEAR Protocol price analysis shows the cryptocurrency price is moving up and has recovered well from the start of the session. Today NEAR/USD pair traded between the range of $6.3 to $6.8, and we expect a further improvement over the coming hours.

NEAR Protocol price analysis: Bulls regain stability at $6.8 after sequential loss 1
NEAR/USD 1-day price chart. Source: Tradingview

Today NEAR bulls successfully reclaimed their breached support of $6.6, the next resistance is present at $7.6, and it is evident from the circumstances that bulls are aiming for it next.

The volatility is comparatively high for NEAR/USD as the Bollinger bands are still expanded enough, with the upper band at the $10.3 mark and the lower band at the $6.1 mark. Due to the consistent bearish trend of the last few days, the price came down near the lower band, so the mean average of the indicator is still far above the price level at the $8.2 mark. The Bollinger bands breakout is slightly downwards, which still indicates worrisome.

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The relative strength index (RSI) is in the neutral zone at 46 index, but the indicator shows an upwards curve, which is an indication of the positive market sentiment for NEAR, as selling activity is increasing.

The MACD is still bearish due to the downfall of the last few days, which balanced out the steep gains of the 22nd and 23rd September. MACD is a lagging indicator, as it still favors the bearish side, and NEAR needs to cover a range of at least $7.7 to let the bullish crossover happen.

NEAR Protocol price analysis: NEAR/USD striving for a better score

The 4-hour price chart for NEAR Protocol price analysis declares a rise in price; The bullish momentum has been strong enough to bring the price level above the moving average (MA), which stands at $6.7. Though again, a red candlestick is appearing, it may turn into green in the coming hour if buying activity increases as MA is indicating a bullish crossover.

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NEAR Protocol price analysis: Bulls regain stability at $6.8 after sequential loss 2
NEAR/USD 4-hours price chart. Source: Tradingview

The volatility is mild for NEAR on the 4-hour charts, and the price has moved up near the mean average of Bollinger bands. The RSI has been flat at 43 index, and for NEAR/USD to spike up further, the RSI must take an upwards turn.

The short-term moving averages (MA) and exponential moving averages (EMA) are still on the bearish side due to the steep bearish trend of the last week, but the Hull moving average is on the bullish side and favors buying decisions. However, long-term MAs and EMAs all favor the buying of NEAR assets.

If we round off the technical indicators, then out of a total of 26 technical indicators, 10 indications are still on the bearish side, and eight indications are on the bullish side, whereas eight technical indicators stand neutral without favoring any side of the market, the slight inclination of technical indicators towards the bearish side is due to the previous price function.

NEAR Protocol price analysis: Conclusion

The hourly based and the daily NEAR Protocol price analysis suggests a spike in price is expected in the coming hours as there have been bullish indications, and we expect the NEAR/USD pair to touch at least $7.3 level as bulls secure their grounds.

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NEAR price analysis: NEAR breaks down below support at $10.6, support at $9.1 to hold?

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  • NEAR price analysis is entirely bearish.
  • The price action was unable to break resistance at $11.01.
  • If the trend continues, we might see support at $9.1 broken.
  • The current price for NEAR/USDT is just above the support at $9.1.

NEAR price analysis for today is bearish and in the short term as well. We saw a price rally on 7th September from $5.4 to $11.8 on 9th September. This made NEAR one of the best cryptocurrencies to invest in despite Bitcoin‘s huge correction on 7th September. The price of the coin almost doubled and struck the resistance at $11.01, which remains unbroken.

The bulls were not able to conquer the $11.01 price level, and as a result, we saw a huge price retracement for the cryptocurrency. Currently, our Bitcoin price analysis shows that Bitcoin fell from a $47K price level to a $46K price level, the former being a level of resistance and the latter being a level of support. However, we can further expect that if Bitcoin breaks its resistance at $47K, we can expect NEAR/USDT price action to move up as well.

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