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- The Near Protocol coin seems to be bullish for the past several days.
- The price action forms the ascending triangle pattern over the daily price scale.
- The pair price of NEAR along with the Bitcoin is up 7.2% at 0.0002 satoshis.
The Near Protocol coin seems to be slightly bullish for the past several days. The price acting suggests the ascending triangle pattern on the daily price chart, where bulls have multiple attempts to break this zone. At the time of writing, the NEAR crypto is trading at $4.5 Mark against the USDT.
The NEAR is observing just below the resistance trendline of the triangle pattern. If buyers breach this immediate bullish bundle, then $5.0 will be the next stop of buyers. For the past four days, buyers have been aggressive, as a result, buyers gained near 8.5% profit this week.
The price action shows higher-low formation after reversing from the buyers’ hedge zone. Buyers manage the altcoin price above the bullish trendline (above the graph). Bears continue to deny the buyer’s bullish order near the $4.7 resistance level. The bulls need to get rid of themselves from the bears’ clutch.
The Market cap of Near Protocol is in the green zone by 5.3% at $3.5 Billion as per the last 24-hours data of CMC. Furthermore, the pair price of NEAR along with the Bitcoin is up 7.2% at 0.0002 satoshis. The 20-day moving average stood to be a support for buyers over the daily price graph.
The 20 DMA has an Immediate Support Level for Buyers
In terms of the daily price scale, the RSI indicator is well above the 60 level, which suggests bullish momentum for the Near protocol. Same as, the MACD continued to move higher with a green histogram moving into the positive zone.
Conclusion
While on the one hand, buyers barely try to maintain the high stability of the NEAR Protocol coin; on the other hand, the bears continue to refuse near the resistance level of the ascending parallel channel. The technical indicator shows bullish momentum for the coin.
Support level- $3.0 and $2.8
Resistance level- 5.0 and $7.3
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
