Near Protocol Price Analysis: NEAR Rallies 20% Defying the Overall Market

Key Support levels: $13

Key resistance levels $18

NEAR has made significant gains and reached almost $18 on January 4, while the rest of crypto market was in a downtrend. NEAR has successfully retested the $13 support level and appears prepared to try a new all time high. NEAR reached $16 today.

The resistance at $18 has so far prevented cryptocurrency from setting a new record. However, this crucial level is being challenged by the bulls.

Chart by TradingView

Technical Indicators

Trading Volume: NEAR $16 has been achieved by the strong buy volume over the past two days. If this trend continues, then it is possible that the key resistance will be tested.

RSI: The daily RSI has been making higher lows than usual and is currently moving upward. This is bullish and can only be stopped by a rejection of the key resistance.

MACD: Last week’s bearish MACD cross was averted, but NEAR held firm at key support. The MACD histogram and moving averages have curved back up since then, suggesting that a reversal might be in play.

Chart by TradingView

Bias

NEAR’s bias is bullish. The cryptocurrency has shown strength despite a tough start to January.

NEAR: Short-Term Price Prediction

NEAR seems keen to break $18’s key resistance, given its current momentum. It will then enter price discovery if it is successful. After that, it is anyone’s guess as to what would happen.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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