Altcoin News

NEAR Price Analysis: NEAR Network breaks resistance at $9.418, higher prices to follow?

TL;DR Breakdown

  • NEAR price analysis suggests bullish movement for today.
  • The nearest resistance was present at $9.418, which was broken.
  • On the other hand, the nearest price support is seen at $9.743.

The NEAR price analysis is bullish for today, with a 9.04% surge in the past 24-hours. The prices have been bullish for the month of October as well. The data from CoinMarketCap shows a 1.16% surge in the trading volume, with an 8.40% surge in the market capitalization of the token.

Compared to the month before, the prices are up by 40.97%, with a monthly high of $9.954. In the past 24-hours, we have seen a high of $9.84 followed by a low price of $8.84. The daily low for today is $9.219, with bulls in control of the price momentum.

NEAR price analysis using the technical indicators on the daily chart

NEAR price analysis is currently breaking out from the upper end of the Bollinger Bands, and we can expect higher prices this month. While there are a number of factors involved, the price action is just 17.04% from its all-time high (ATH) at $11.83.

The 50-day and 100-day Moving Averages are acting as price support for the NEAR/USDT pair, and currently, the momentum is above these key Moving Averages.

NEAR price analysis in the daily chart by TradingView

NEAR/USDT daily chart shows that the RSI levels are above the 50-level, indicating that buying pressure is high. Furthermore, the gradient is positive, indicating plenty of room for higher prices.

The MACD indicator shows that the MACD line (blue line) just crossed above the signal line (orange line), indicating a bullish crossover. This means that the price movement will remain bullish on the daily chart.

NEAR price analysis in the daily chart by TradingView

Final Verdict

After the complete analysis of the NEAR/USDT price token, we can confirm that the price action will remain bullish in the short term. Although, for long-term price analysis, you can have a look at our Price Predictions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

This post was last modified on October 24, 2021 11:43 am

Parth Dubey

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? I love cryptocurrencies.

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