This report provides insights and analysis on the Crypto markets, specifically designed for selective users with a focus on positional strategies.
Near Protocol (NEAR)
Ticker: NEAR
Category: L-1 Blockchain
Market Cap: $1,928,166,020
Circulating Supply: 884,029,720
Max Supply: 1,000,000,000
Price Update: NEAR price at the time of writing (13th April, 16:00) is $2.184 with 24-hour trading volume of $238,828,374. NEAR price is up by 4.42% in the last 24 hours. It has a circulating supply of 884 million tokens with 88% tokens already in the market.
Technical Analysis: Near Protocol (NEAR)
Source: Tradingview
With Reference to above Chart:
- The rally that took place in the months of Jan-Feb’23, retraced to 0.618 fib levels in Mar’23
- Prices have recently crossed the 50-day exponential moving average and are hovering above the 0.382 fib levels of the previous rally.
- Current levels are at resistance levels, and 1-2 pullbacks with support from the 50 EMA (orange line) could provide opportunities for long swings.
- The market is shifting towards ALT coins, and accumulation could potentially yield favorable returns.
- The support levels will be 50 Daily Exponential Moving Average (EMA) and target ranges will be resistance levels of 200 EMA. (Orange & Blue lines in chart respectively)
- Long positions can be considered between $2.180-$2.06, with Futures Traders potentially looking for a 10-12% movement towards $2.372. With invalidation below $2.01.
- Spot Traders can look for longer time frame accumulation ranges from $2.184-$1.96 with upward potential for $2.54, which would ideally be 18-20% gains.
Note: NEAR is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade NEAR Futures in CoinDCX App
Trade NEAR Futures in CoinDCX Pro App
Highlights from previous Analysis:
FTM moved a whopping 15%!!!
(Covered in Special Alt Token Report dated 5th April’23)
Source: Tradingview
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Disclaimer:
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
