The post NEAR Price Displays 2X Jump! Eyes $10 This Week? appeared first on Coinpedia Fintech News
The Near protocol price continues to display a significant uptrend in its portfolio, highlighting a strong bullish influence for this token in the cryptocurrency industry. Further, the Near Protocol price has added approximately 15% within the past 24 hours, making it one of the top gainers in the industry for the day.
Moreover, the token has added over 75% within the past week and 135.5% over the past 30 days, indicating a rise in investors interest for this token.
Near Protocol Price Regains Momentum!
The NEAR price traded in a closed range between $3.106 and $3.624 for a brief period, indicating a weak buying and selling pressure for the altcoin in the market. As the market volatility grew, the bulls gained just enough momentum to break out of the resistance level.
After this, the price traded sideways for the next eleven days with the support of the 50-day EMA. Following this, the Near protocol price recorded a jump of approximately 58% in valuation. The price then traded in a closed range between $5.330 and $6.584 for four days during which it displayed significant volatility in the chart.
TradingView: NEAR/USDT
The NEAR token then recorded another jump of 50.31% within the next two days before facing rejection at the resistance level of $8.458. Since then, the price has been trading under a bearish influence and is on the path of testing its support level, the outcome of which is unpredictable.
The technical indicator, RSI, displays a sharp fall in the chart, indicating an increased selling pressure in the crypto space. Moreover, the averages show a bearish convergence, highlightign a negative price action for the coin in the coming time.
Will NEAR Price Go Up?
If the market holds the price above the support level of $7.483, the bulls will regain momentum and prepare to test its resisatcne level of $8.458. Further, if the bulls continue to overpower the bears, the NEAR token will test its upper resistance level of $9.50 this week.
Conversely, if a trend reversal occurs, the Near Protocol price will continue to lose momentum and fall to test its lower support level of $6.584. Moreover, if the market continues to trade under a bearish influence, it will plunge and prepare to test its lower level of $5.30 in the coming time.