Near Protocol (NEAR) Losing Investor Patience
Near Protocol (NEAR) has been struggling in recent days as many traders and investors are beginning to lose patience with the current price.
- Near's price has been struggling lately, despite showing signs of recovery in recent times. On both the low and high timeframes, the price has been struggling to find traction. However, recent signs of recovery suggest that Near may start to see some price stability in the near future.
- The NEAR price is currently trading in a range, but it looks set for a retest of key support areas. This could be a good opportunity to buy NEAR at a discount if the price does indeed retest support levels.
- It looks like the price of NEAR is having trouble breaking above resistance despite forming a rounded bottom on the daily timeframe. This could mean that the bears are still in control and that further downside is possible.
As the crypto market continues to be volatile, many investors are closely watching altcoins for signs of a relief bounce. Near Protocol (NEAR) has struggled recently, failing to have a relief bounce against tether (USDT). Near Protocol's price is now aiming for a retest of its support region at $3.With the current market looking more promising ahead of more relief bounces from altcoins, there are doubts about Near Protocol as the price isn’t as promising as others. (Data from Binance)
Near Protocol (NEAR) Price Analysis - Engaging Weekly Chart
It's good to see that crypto projects are finding relief in the new month. Altcoins such as BTC, ETH, and XRP have all shown strength after weeks of downtrend movement. This is a positive sign for the future of cryptocurrencies.
It looks like the price of NEAR may not be very promising in the near future, as it continues to trend downward, despite attempted breakouts above the $6 resistance. This could mean that investors are losing confidence in the coin, and its value could continue to drop in the coming days and weeks.
Many traders and investors are concerned about their NEAR positions following a rejection from $6. The price has struggled to recover and trend above the $3.5 support level, and many are wondering what the future holds for the coin.
The weekly price for NEAR closed bearish ahead of a new week, with the price opening with a range price movement, creating mixed feelings as regards the recovery of NEAR. For NEAR price to resume its bullish trend, the price needs to break and close above $6.
Looking at the weekly chart for the price of NEAR, it is clear that there is significant resistance at the $6 level.
I predict that the price of NEAR will remain steady at around $3.5 per week. This is a good price point for the coin, and I think it will continue to attract buyers and remain popular.
Price Analysis Of NEAR On The Daily Chart
It is clear that the crypto market is still bullish, despite the recent pullback in prices. This is evident by the fact that the market cap is still holding above $850 billion. This has been a key level of support for the market, and has helped to keep most altcoins afloat. However, NEAR has been lagging behind, remaining in a range-bound price movement with little price movement.
The current price of NEAR is $3.68, as the price remains below the 8 and 20-day Exponential Moving Averages (EMA), unable to break above this region. The price of $3.75 corresponds to the 8 and 20-day EMA values acting as support. As long as the price of NEAR remains below these moving averages, it is unlikely to see any significant price movement to the upside.
The NEAR price has been in a downtrend for a while, but if it breaks above the resistance region, it could signal some relief.
The price of NEAR is currently $6, but it faces daily resistance at this level. Some analysts believe that the price could rise to $8 or even $10 if it can break through this resistance.
I predict that the price of NEAR will continue to rise in the near future. This daily support is a strong indication that the market is bullish on this cryptocurrency.
