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NEAR Protocol price analysis: NEAR breaks above $12.8 crucial resistance as bulls define the price curve

NEAR Protocol price analysis NEAR breaks above crucial resistance as bulls define the price curve

TL;DR Breakdown

  • NEAR Protocol price analysis is bullish today.
  • Resistance for NEAR is present at $13.5.
  • Support for NEAR/USD is present at $12.5.

The Near Protocol price analysis reveals the bulls are ruling the market and have recovered the price to the $13.2 range today. The price of NEAR/USD has rallied high and has broken above the $12.8 resistance in a swift move. Bulls are defining the price curve from the start of today’s trading session. The price underwent correction yesterday, but the tides have turned today, and the trend is in favor of the buyers. A further increase in price can be expected in the upcoming time as the bulls are in a dominant position.

NEAR/USD 1-day price chart: Near to challenge $13.5 next

The 1-day Near Protocol price analysis shows the coin is bullish, as it is covering a range upwards today. The NEAR/USD traded in a range of $12.1 to $13.4. Currently, the crypto pair is trading hands at $13.2 at the time of writing. NEAR reports an increase in value by 4.72 percent over the last 24 hours and also reports an increase in value by 18.34 percent over the course of the last seven days. The market cap has also increased by 3.50 percent, but the trading volume decreased by 9.51 percent today.

NEAR Protocol price analysis: NEAR breaks above $12.8 crucial resistance as bulls define the price curve 1
NEAR/USD 1-day price chart. Source: TradingView

The volatility for NEAR/USD is quite high as well, with the upper limit of the Bollinger bands now trading at $13 level, and the lower limit of the indicator is present at the $9 level representing support for the cryptocurrency, the rice is currently trading above the upper limit of the Bollinger bands. The average centerline of the Bollinger bands is present at $11, below the moving average (MA), which is present at $11.7.

The relative strength index (RSI) suggests intense buying activity in the market as the curve of the indicator is sharply upwards, and the RSI score has improved to index 64 after taking a dip towards index 58 yesterday.

NEAR Protocol price analysis: Recent developments and further technical indications

The 4-hour price chart for NEAR Protocol price analysis shows the price function is headed upwards today after a sudden drop in price observed yesterday. Bulls have been ruling for the last eight hours and have improved the price level up to $13.2, with a further increase in price also expected in the coming hours.

NEAR Protocol price analysis: NEAR breaks above $12.8 crucial resistance as bulls define the price curve 2
NEAR/USD 4-hours price chart. Source: TradingView

The volatility is also increasing as the Bollinger bands are expanded on the 4-hour chart as well. The upper limit of the Bollinger bands is present at the $13.4 mark representing resistance for the NEAR/USD, and the lower band is present at the $11 mark representing support for the coin.

The RSI on the 4-hour chart shows the NEAR is trading almost near the overbought status as the RSI has reached index 67, almost at the borderline of the overbought region. The sharp upwards curve of RSI is indicting intense buying momentum in the market as the SMA 20 also continues to trade above the SMA 50 curve.

NEAR Protocol price analysis conclusion

The NEAR Protocol price analysis suggests bulls have shown quite good performance today. We expect NEAR to continue further upside today as the bullish momentum seems healthy enough. NEAR may break above the $13.5 resistance in the coming hours if the bullish momentum continues.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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