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

January 11, 2022 Marla Brooks

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.

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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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.