Is Near Price Bouncing Back?

NEAR Protocol faced a correction in the previous trading sessions from the high of $4.00. Moreover, the price is headed downward from there and trying to bounce back from the key EMA levels.

However, the price is showing some signs of recovery. It bounced back from the key exponential moving averages (EMA) levels, which act as a dynamic support. The 100-Day EMA is currently at $2.77028, and the price has traded above the key moving averages. It indicates that the buyers are trying to surge above the key moving averages.

NEAR Protocol crypto price now has been trying to surpass the key resistance levels and has been trapped below them. Presently, NEAR Protocol cryptos require more buyers to push an upward movement toward recovery. However, the trading volume increased, which shows buyers are back in momentum. At the same time, NEAR Protocol crypto rose above the 20 and 50-Day daily moving averages, which is a bullish sign.

NEAR crypto price has risen about 13.05% this week. These trends show the NEAR Protocol cryptos are bouncing back. Technical indicators point to the upside trend of NEAR Protocol crypto price. Relative strength index and moving average convergence divergence both show the jump in NEAR Protocol crypto price.

The price currently needs significant support from the buyers to reach the upper levels. Buyers are taking control of the price action, according to the candlestick patterns.

The price may soon try to make a bullish rally. However, the buyers will have to overcome multiple resistance levels to reach the upper targets. Buyers are currently making consistent efforts to regain charge of the trend properly.

NEAR Protocol on the Technical Charts

On the daily charts, NEAR Protocol crypto suggests buyers’ dominance and jumping above neutrality, showing a positive outlook on the charts.

At the time of publishing, NEAR Protocol crypto (USD: Near) is trading above the 50 and 200-Day DMAs (Daily moving averages), which supports the price trend. The current value of RSI is 65 points. The 14 SMA is close to the median line at 56 points, indicating that the NEAR Protocol crypto is bullish.

The MACD line and the signal line are above the zero line. A bullish crossover is observed in the MACD indicator, which signals more bullishness for the Near crypto price. Overall, the technical indicators and price action suggest that NEAR Protocol crypto is bullish and that the uptrend may persist.

Summary

NEAR Protocol (USD: Near) technical indicators confirm the bullish trend. The MACD, RSI, and EMAs are showing bullish signals and indicate that the uptrend may persist in the Near crypto price. NEAR Protocol price movement shows that the prices are bullish on the 1-D time frame. The price movement reveals a bullish outlook currently.

Technical Levels

Support Levels: $2.47388 and $2.381031

Resistance Levels: $3.8383 and $4.6438

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

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.