- NEAR’s price struggles to hold above key resistance as price trends in a falling wedge price could break the downtrend.
- NEAR’s struggle continues as price resists in its bid to regain the area.
- NEAR is continuing a downward trend in price movements. However, the price can surprise under 50 and 200 Exponential Moving Averages. (EMA)
Near Protocol (NEAR), a crypto asset, has not seen a rally in its price against USDT (USDT). Instead, it has been moving within a narrow range with limited or no volume. Despite uncertainty in the crypto market, although Bitcoin (BTC and other crypto assets like Ethereum (ETH), have suffered a minor setback in price movement in recent weeks. However, NEAR has displayed little to no volatility in price movement. Many fear that NEAR will reclaim support at $3. Data from Binance
Near Protocol (NEAR), price analysis on the Weekly Chart.
The bear market hasn’t been good and favorable for most projects, as this has been a tough time as most projects have seen a price decline of over 50% and have discouraged most traders and investors from hodling these assets.
NEAR’s price hasn’t reflected the great developments, despite huge support from partners and an enormous community that has grown and built.
NEAR Protocol’s price action was outstanding in the first part of this year. The price rose from $3 to $19 at the lowest, but it failed to rise as high as some expected.
NEAR Price rallied to $19 but the price was unable to rally higher. The price fell from its highs to $2.9 per week and continued falling.
NEAR saw a bounce from the $2.9-$6 area in an attempt to escape this downtrend. But, it failed to do so and remains in a downtrend.
Weekly resistance for the price of NEAR – $3.7.
Weekly support for the price of NEAR – $2.
Pricing Analysis For NEAR On the Daily (1D) Chart
NEAR’s daily trading price continued to decline as it moves in a rangebound, descending wedge.
NEAR’s price has fallen to $3 but this area has helped the NEAR price bounce back in an effort to rally. Haven’t lost this area, so the NEAR price continues trading in a downward wedge with an opportunity to breakout.
NEAR could break the wedge if it is priced above $2.
Daily resistance for the NEAR price – $3.7.
Daily support for the NEAR price – $2.5-$2.
Featured image from themarketperiodical. Charts from Tradingview