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- Recent tweets from the official ID of near looks like it’s trying to keep on a happy facade.
- The prices might have dipped a little but are climbing up on the backs of their adaptive strategies.
- The crisis seems to have affected less as currently, the price rises by 0.6% approx.
The “all is well” notion seems to work for the NEAR protocol as it is focusing on the future and corrective measures to right all the wrongs. The background repair has commenced as they are releasing and highlighting all of their best attributes to reassure their investors.
Diagramatic-story session
The prices can be seen moving slightly but rising back to $2.230 from the $2.161 support level. The heavy sales and purchases show the market is trying to reach an equilibrium and maintain the prices in their usual range. The Bollinger bands diverged due to the sudden hit in the price, but the market forces are there to prived a little cushion and help them rise back up.
The MACD is strongly bearish with a wide divergence with the signal line and shows a heavy selling sentiment by the market investors. The RSI indicator bounced back from the oversold zone and still lies on edge. It might fall back to the area below 30-mark to regain control of the situation.
The smaller picture
The 4-hour window shows that the market might turn bullish as the price remains stagnant, around $2.23. The MACD indicator converges with the signal line and may move in an intertwined manner for some time as the market tries to gain balance. The RSI indicator stays around the verges of seller dominance around the 30-mark and may anytime cross this bound.
Conclusion
The NEAR is less ruined than other coins, but it still needs to be too early to confirm anything. It may regain the balance lost based on its futuristic plans and strong motives to survive this turmoil with the least impact. The damage control policies might work if executed in time.
Technical levels
Support levels: $2.55 and $2.16
Resistance levels: $3.59 and $3.84
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
