TA- Near Protocol Struggles With Resistance, Can Bulls Push Price To $6?
31 Août 2022 - 05:21PM
NEWSBTC
The price of Near Protocol (NEAR) showed bullish signs of going
higher to a region of $6-$7, but the price was rejected back to its
support area, where it has found high demand for its price. Bitcoin
(BTC) and Ethereum (ETH) all saw a relief bounce from their monthly
low, leading to altcoins like Near Protocol (NEAR) having a measure
of relief bounce. (Data from Binance) Related Reading: This
Indicator Predicts Probable Bearish Trend Ahead For Ethereum Near
Protocol (NEAR) Price Analysis On The Weekly Chart The price
of NEAR showed some great bullish strength after breaking above its
weekly resistance of $4.7 and traded to a high of $5.9 before
seeing a rejection back to its key support area. NEAR’s price
has again shown bullish strength after closing the week, looking
bearish on the weekly chart. The price of NEAR is currently trading
below a key resistance on the weekly timeframe; NEAR needs to break
this resistance with good volume to have a chance of trending
higher to a region of $6 and possibly $7. Weekly resistance for the
price of NEAR – $4.7,$6. Weekly support for the price of NEAR – $3.
Price Analysis Of NEAR On The Daily (1D) Chart The price of NEAR
found its daily low at $3.7, forming good support as the price
bounced off the area. NEAR price has rallied to a region of $4.7,
where it has been faced with resistance to breaking above for the
price of NEAR to trend to higher heights. Despite being rejected in
recent times from the $6 mark, NEAR price has shown great bullish
strength; the price of NEAR is trading at $4.3 below the daily
50-day and 200-day Exponential Moving Average (EMA). The 50 and 200
EMA correspond to prices of $4.5 and $6.7, respectively, acting as
resistances for the price of NEAR to trend higher. If the NEAR
price breaks and holds above the $4.7 corresponding to the 50 EMA,
we could see the price trending higher to a region of $7. If NEAR
price fails to break above its resistances, then prices would find
more momentum at its support of $3.7 or even lower. Daily (1D)
resistance for the NEAR price – $4.7, $6.7. Daily (1D) support for
the NEAR price – $3.7, $3. Price Analysis Of NEAR On The
Four-Hourly (4H) Chart The price of NEAR on the 4H chart has
continued to look bullish, trying to hold above the support area at
$4.2. NEAR price currently trades above the 50 EMA on the 4H chart,
with more buyers willing to push the price higher. After forming a
bullish divergence on the 4H chart as the price was oversold, the
NEAR price rallied to $4.4 after breaking above the 50 EMA and
holding above it; the 50 EMA price corresponds to the support at
$4.2. The price of NEAR is faced with resistance on the 4H chart,
preventing the price from breaking higher. The Relative Strength
Index (RSI) for NEAR on the 4H chart is above 70, indicating more
buy order volume for the NEAR price. Four-Hourly (4H) resistance
for the NEAR price – $4.5. Four-Hourly (4H) support for the NEAR
price – $4.2, $4. Related Reading: Bitcoin Reclaims The $20,000
Throne While Ethereum Rises On The Chart Featured Image From
zipmex, Charts From TradingView.com
NEAR Protocol (COIN:NEARUSD)
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De Fév 2024 à Mar 2024
NEAR Protocol (COIN:NEARUSD)
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De Mar 2023 à Mar 2024