08 December 2022 : In this article we will walk you through NEAR Protocol price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for NEAR Protocol, Is NEAR a good investment? NEAR Protocol support & resistance levels etc. But before diving deep into the NEAR technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $841,726,881,281. The total trading volume stands at $36,963,872,407. Bitcoin shares 38.51 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,859.81 level after a decline of -1.25%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.85 percent reaching to $1,233.43 during the previous 24 hours.
While publishing this blog, BNB traded at $284.46, following a price change of -1.93%within the same time frame. XRP the native coin of XRP is down by -1.86 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -4.18% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of NEAR Protocol (NEAR)
|NEAR Resistance Levels||NEAR Support Levels|
|Resistance Level 1||$3.24||Support Level 1||$2.80|
|Resistance Level 2||$3.45||Support Level 2||$2.56|
|Resistance Level 3||$3.69||Support Level 3||$2.35|
According to Price Analysis Market Index, NEAR Protocol (NEAR) is trading at $1.70 with a trading volume of $103,560,199.00. However,NEAR has a price decline of -5.12% in the last 24 hours.NEAR price changes -1.25% over the week with a total market capitalization of $1,419,800,154.00 USD.
NEAR price analysis for 08 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the NEAR Protocol.
|Simple Moving Average (10)||3.12||Sell|
|Exponential Moving Average (10)||3.11||Sell|
|Simple Moving Average (20)||3.34||Sell|
|Exponential Moving Average (20)||3.32||Sell|
|Simple Moving Average (50)||3.85||Sell|
|Exponential Moving Average (50)||3.82||Sell|
The MACD line is standing below of the signal line after a crossover. NEAR Protocol investors need to wait for any directional change over the daily chart. The NEAR Protocol has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take NEAR price below the crucial support level of $2.80. The relative Strength Index (RSI) indicates that the NEAR coin is in oversold phase, as RSI is at 23. While NEAR’s Williams %R indicator is at -70.211 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.
The NEAR Protocol market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of NEAR might try to break above its resistance level of $3.24. For now the coin is showing negative trend.