Crypto Technical Analysis

Near Protocol (NEAR) Technical Analysis: Will NEAR Price Reach INR 1500 this Week?

NEAR Technical Analysis

Key Takeaways

  • The NEAR price closed the previous day’s trade at INR 1,272.91 with a market capitalization of INR 10,64,00,00,000 and a circulating supply of 66,10,44,286 NEAR
  • The bulls appear to have stepped in to sustain the price above the important resistance levels at INR 1277
  • After an interim consolidation, the price is expected to continue its trade towards the north to register an upswing beyond INR 1,400

Near Protocol(NEAR) Technical-Analysis for Today: 04 April 2022

The NEAR price maintained a strong upswing ever since the beginning of April’s trade. Despite a couple of pullbacks, the asset is pretty bullish and in an attempt to regain the lost levels above INR 1,350. On the other hand, the bears are also extremely strong at the moment but hence the changes in the price bottoming below INR 1250 appear high. The price may remain consolidated throughout the day and try to gear up as the daily close approaches. 

Near Protocol(NEAR) Technical Analysis at a Glance

The NEAR price is undergoing huge volatility with almost equal participation of bulls and bears. The price in recent history has undergone a similar upswing with huge volume and consolidated heavily further. And hence mirroring the same momentum, the price is expected to range ahead with significant spikes to achieve the required levels at the earliest.

Short-Term The volatility and the strength both appear to have depleted massively which may compel the price to remain within the consolidation for more time
Mid-Term The NEAR price after ranging significantly high may soon be exhausted and shed some gains to plunge close to INR 1200 levels
Long-Term A significant bullish volume has mounted since the beginning of March which may continue nullifying the impact of the trend reversal if any

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 51.2 / 70.74 Neutral / Buy
MACD(12,26) 0.175 / 1.32 Buy / Buy
Average Directional Index(ADX) 20.65 / 55.15 Sell / Buy
Bull-Bear Power -0.36 / 5.902 Sell / Buy

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 INR 1209.21 INR 843.13
Moving Average(MA)-200 INR 1071.08 INR 825.01
Resistance INR 1355.65 INR 1402.45
Support INR 1241.69 INR 1100

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 28.92 56.74
Ultimate Oscillator 42.12 56.80
Average True Range(ATR) 0.408 1.44
CCI -35.14 202.41

Due to the fresh price slash, the asset may fall into the bearish trend in the short term while the long-term forecast is extremely bullish. The RSI cements along with the neutral ranges along with the ADX as the volatility decreases heavily. However, the mounted buying volume may prevent an extended descending trend but no strong flip with a huge uptrend may be expected. 

On the other hand, the long-term forecast is extremely bullish as RSI is approaching the overbought area with MACD indicating no trend reversal. The price rally strength is extremely strong but at the same time, it’s highly volatile. Therefore pointing towards a drastic price movement irrespective of the direction. 

NEAR /INR Technical-Analysis for Short-Term

Source: Tradingview

  • The NEAR price since the beginning of the present month is following a steady uptrend within an ascending parallel channel
  • After the price rebounded from the lower support a couple of times, it is attempting another strong flip at the moment
  • Currently, the sellers remain a little distinct and hence a notable rebound may be expected in the next couple of hours
  • Initially, with a flip, the asset may try to regain the levels at INR 1400 to test the neckline of the double-bottom pattern and ignite a notable leg up towards INR 1500 which is also the ATH

NEAR/INR Technical Analysis for Long-Term

  • The asset is swinging within an ascending wedge which is primed for another upswing after the current pullback 
  • The NEAR price in the long-term is sliding towards the immediate lower support and may ignite a notable flip to rebound towards the highs
  • The possibility of the asset forming a new ATH is pretty high as the buying volume has accumulated pretty high 
  • Therefore maintaining a significant upswing the price could form a new ATH beyond INR 1542.76 at the earliest

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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. In case you have any queries, write to .
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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