NEAR Protocol price analysis: NEAR reclaims $17, as bulls mark 11 percent gains

TL;DR Breakdown

• The NEAR Protocol price analysis is bullish.
• Resistance for NEAR is present at $17.5.
• Strong support is present at $14.7.

The NEAR Protocol price analysis shows a bullish trend for today. The bulls have taken over the price charts once again and have enhanced the price level to 17, as the coin is getting positive market sentiment. Currently, NEAR is testing $17.15 resistance and will hopefully break above this resistance level.

Against the odds, NEAR is maintaining its price level when most of the coins are on a downtrend despite recovering today. NEAR also observed a strong correction on 10th April when the broader crypto market turned bearish, but NEAR bulls are on their way to reclaiming the $17.5 level where the coin was before the mentioned correction. The overall scenario is good for buyers as the coin is showing good bullish momentum, and the broader crypto market is also recovering today.

NEAR/USD 1-day price chart: Bulls on their way to conquer $17.5 bears camp

The 1-day price chart for NEAR Protocol price analysis shows bulls are in the lead for today as well, following the bullish lead of yesterday. Even today, their performance has been marvellous as the NEAR/USD pair is trading hands at $17 at the time of writing. The price trend has been slightly upwards during the last week, and today the price has rallied high, gaining 11 percent value. The trading volume has also increased by 58 percent today, providing a market dominance of 0.59 percent.

The volatility is high for the crypto pair as the Bollinger bands are expanded, with the upper band of the indicator at $18 representing resistance, and the lower band has come up to $11.4 representing support for NEAR as the price is trading near the lower band. The mean average line of the Bollinger bands is below the price level at the $15 mark. The positive sign is the upwards movement of both the ends of the Bollinger bands, which hints at more upside to be observed in the coming days.

The relative strength index (RSI) is trading in the neutral zone. The RSI started moving upwards yesterday and has reached index 62 in the upper half of the neutral zone. The upwards curve of the indicator indicates the buying activity in the market.

NEAR/USD 4-hours price chart: Recent developments and further technical indications

The 4-hour price chart for NEAR Protocol price analysis shows the price breakup was downwards today as a small correction started at the start of the trading session, but bulls took over later on and have rallied high as the price has been taken to the $17 range.

The moving average (MA) is trading at $15.9 below the price level and even below the Bollinger bands mean average, which is present at $16.3. The volatility is increasing on the 4-hour chart as the Bollinger bands have started to diverge, with the upper band present at $17.5, representing the current resistance level for the NEAR price function.

The relative strength index (RSI) is moving on an upwards curve, indicating the progress from the bullish side; the indicator has reached index 56 in the upper half of the neutral zone.

NEAR Protocol price analysis: Conclusion

The NEAR Protocol price analysis suggests that the bulls have performed well today and have gained significant value for the coin. The current price level of $17 is expected to increase in the coming hours. However, a correction can also be expected at the $17.5 range.

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