NEAR Protocol price analysis: Price drifts past $11.54 as bulls regain momentum

NEAR Protocol price analysis Price drifts past as bulls regain momentum

TL;DR Breakdown

  • The price has increased up to $11.54.
  • NEAR Protocol price analysis confirms rise.
  • Support is evidently strong at $9.72.

The NEAR Protocol analysis is showing signs of an uptrend. The bulls have succeeded in taking the lead once again as the NEAR/USD price is rising. Although the bears have been ruling the market for the last few days, today’s trend is again in favor of the buyers. The bullish return has resulted in the price climbing above the $11.54 hurdle.

NEAR/USD 1-day price chart: Upturn in price observed after bullish comeback

The one-day NEAR Protocol price analysis confirms a bullish trend for the day, as the bulls have succeeded in making a comeback. There have been constant fluctuations in the price movement since the past few weeks. But today, the bulls have been able to secure a win by taking the price above the $11.54 boundary. Because of the bullish trend, the price is now above the moving average (MA) value, i.e., $11.54.

NEAR Protocol price analysis: Price drifts past $11.54 as bulls regain momentum 1
NEAR/USD 1-day price chart. Source: TradingView

A crossover between the SMA 20 and the SMA 50 curves was reported in the last 24 hours. The decrease in volatility has changed the upper Bollinger band value to $12.17 and the lower Bollinger band value to $9.72. Due to the bullish price movement, the Relative Strength Index (RSI) score has increased to 58.66.

NEAR Protocol price analysis: Price rallies past $11.53 after bullish takeover

The four hours NEAR Protocol price analysis is dictating a solid rise in price. The bulls have been ruling the price chart for the past few hours, and an increasing movement has been observed in the last fours as well. The bulls have lifted the price to the $11.54 level, and further intensification in the bullish trend is expected. The moving average value in the four hours price chart is $11.24, whereas the Bollinger bands average is $11.47.

NEAR Protocol price analysis: Price drifts past $11.54 as bulls regain momentum 2
NEAR/USD 4-hours price chart. Source: TradingView

The SMA 50 curve is still traveling higher than the SMA 20 curve, as the bears were trending earlier. The Bollinger Bands Indicator is showing a change in values as well as now its upper value is $12.26, and its lower value is $10.67. The RSI score has improved to 56.10 as a result of the upward trend.

NEAR Protocol price analysis: Price drifts past $11.54 as bulls regain momentum 3
NEAR/USD technical indicators chart. Source: TradingView

The technical indicators chart for NEAR/USD is giving positive results regarding the price movements. There is a bullish signal for the day, as there are 15 indicators on the buying point, nine hands are on the neutral point, and only two indicators are on the selling point.

The Moving Averages Indicator supports the buyers with a strong bullish signal. There are 13 indicators present on the buying position, while one indicator is on the selling and neutral positions. The Oscillators give a neutral hint for the day, as there are eight indicators on neutral position, two indicators on buying position, and one indicator on selling place.

NEAR Protocol price analysis conclusion

The NEAR Protocol price analysis suggests an increasing trend is taking over the market for the day as the bullish momentum is recovering. The price has heightened up to the $11.54 level because of the bullish trend. Further improvement in coin value can be expected if the bulls remain persistent with their efforts. Although the bearish momentum was at its peak in the previous week, today’s trend is quite promising. A crossover between SMA 20 and SMA 50 curves is a further indication of the rising trend. The hourly prediction is going in favor of the bulls as well, as a significant increase in price is reported.

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.

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