NEAR Protocol price analysis: NEAR aims for $20, as it gains 23 percent overnight

NEAR Protocol price analysis NEAR aims for as it gains percent overnight

TL;DR Breakdown

  • The NEAR Protocol price analysis is strongly bullish.
  • Resistance for NEAR is present at $19.63.
  • Strong support is present at $17.10.

The Near Protocol price analysis is in favor of bulls, as the coin is rallying high today. The coin’s price started to spike yesterday after a correction period that lasted for two days. The correction that started on 5th April was also strong as it brought the price levels quite low, but on the other hand, the recovery is unexpectedly more steady than any other altcoin, as yesterday NEAR broke past the $17.1 resistance, and today it’s aiming for $19.6 as it’s the first target.

If NEAR breaks above the said resistance, then the only next target will be another record high, which might also be achieved if the bullish momentum lasts for another day.

NEAR/USD 1-day price chart: NEAR to retest $19.6 as resistance

The 1-day NEAR Protocol price analysis report reveals a strong bulls rally after the coin recovered from the correction. The price is trading at higher price levels as the coin is trading hands at $19.22 at the time of writing, gaining 23 percent value overnight. The coin has also gained a good 44 percent value over the past week, which is unmatched by any other coin for this time period in the current market. As the bullish momentum seems strong, it can be expected that the NEAR will break above $19.6 in the coming hours.

NEAR Protocol price analysis: NEAR aims for $20, as it gains 23 percent overnight 1
NEAR/USD 1-day price chart. Source: Tradingview

The volatility is increasing as the volatility indicator, the Bollinger bands show vast divergence, and the NEAR price has shot above the upper limit of the indicator, which was previously representing resistance for NEAR at 18.66. The moving average (MA) is trading at $16 above the SMA50 curve.

The relative strength index (RSI) shows a steep upwards curve from yesterday after the coin started to rally high. The RSI indicates a strong buying activity going on in the market.

NEAR/USD 4-hours price chart: Recent developments and further technical indications

The 4-hours NEAR Protocol price analysis shows the bulls’ rally started in the evening yesterday when the bulls managed to make an aggressively strong comeback. The price trend was bearish at the start of the previous trading session but turned bullish later in the evening. The price breakout was upwards at the start of today’s trading session following the bullish lead. The price function is still headed upwards as the price has reached $19.22 in the last hour.

NEAR Protocol price analysis: NEAR aims for $20, as it gains 23 percent overnight 2
NEAR/USD 4-hours price chart. Source: Tradingview

The volatility is still increasing, as the Bollinger bands are suggesting. The price level is still above the upper limit of the Bollinger band, which is at the $18.56 mark, and the lower limit is at the $14.33 mark. The Bollinger bands average is above the moving average and is at $16.44 and $16.37, respectively. The MA might soon over cross the BB average.

The relative strength index (RSI) has almost touched the borderline of the overbought zone as it is present at index 69.

NEAR Protocol price analysis: Conclusion

The current NEAR Protocol price analysis shows that bullish momentum is dominating the price function. If the buying pace continues, the token is likely to make it to another record high today or maybe in the next trading session, as the price is almost near the highest level.

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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