Near Protocol since its inception in the world of crypto trade maintained its upward trajectory. Despite undergoing notable corrections, the asset always roared back strongly to regain the lost levels within a very short period. Currently, it is well in place along with the path towards forming a new ATH very soon. The NEAR price is just 2% to 3% distinct from forming a new ATH which may determine the upcoming rally.
Yet despite the clear upward trajectory being completely visible, the correction or retracement cannot be eliminated. As the asset enters the discovery phase, some portion of the gain tends to vanish. And hence whether is it the right time to get into a new deal and accumulate some? Let’s check it out!
Near Protocol(NEAR)/USDT Technical Analysis at a Glance
The NEAR price ignited with the bull run ever since the beginning of the last week of December and rose high until it cleared the crucial resistance levels. However, the asset strongly sustains above these levels around $12.7 and showcases no signs of a plunge to revisit these levels. And hence manifest extreme bullish tendency to slice through the current ATH to a range above $20 in the next couple of days.
| Short-Term | The price is experiencing a pullback, however, the correction could end very soon to resume with the bull run |
| Mid-Term | NEAR price in the mid-term is pretty bullish and may continue to maintain an upward trajectory for a few more days |
| Long-Term | The long-term forecast for the NEAR price is extremely bullish as the asset eyes to form a new ATH soon |
Near Protocol Technical Indicators & Pivot Levels
Technical Indicators
| Indicators | Value(1Hr / 1D) | Action (1Hr / 1D) |
| StochasticRSI (StochRSI) | 43.96 / 878 | Neutral / Neutral |
| MACD (12 26) | 0.074 / 1.64 | Sell / Buy |
| Bull-Bear Power | -0.181 / 3.33 | Buy / Neutral |
| Williams Percentage Range | -51.3 / -17 | Neutral / Neutral |
Pivot Levels
| Pivot Levels | Short-Term | Long-Term |
| Moving Average(MA) – 50 | $16.03 | $10.7 |
| Moving Average(MA) – 200 | $14.9 | $7.11 |
| Resistance | $17.25 | $17.9 |
| Support | $15.7 | $11.92 |
Summary
The NEAR/USDT price in both the short and long term possesses a bullish scenario where-in a new ATH may be fast approaching. Most of the indicators are either neutral or point out towards a buy signal. The MACD which showcases the trend of the upcoming cycle is a little bearish in the short-term but extremely bullish in the long term.
The 12-day MA or MACD line is about to cross the 26-day MA or the signal line to move towards the north and hence displaying a buy signal. But it may take yet another couple of hours and till then the consolidation may continue. Moreover, the bull-bear power that tracks the current market sentiment is also bullish at the press time pointing towards an uptrend. And the William Percentage range which shows the overbought or oversold conditions is in the mid-range and manifests either way swing for the asset.
Coming to the pivot points, the current price is in between the 50-day & 200-day MA in both the short & long term. And hence undergoing a calculated uptrend in between these important levels to reduce extreme volatility. On the other hand, the current price is trading much closer to the resistance levels and hence the probabilities of piercing through these levels and forming a new ATH are pretty high.
Near Protocol(NEAR) Technical Analysis for the Week
Near Protocol kick-started the weekly trade with a spike that sliced through the crucial resistance levels. The ATH was just an inch away when the bears jumped in to extract their profits. Yet the buyers appear to be poised to uplift the price above the ATH to form a new one. And hence despite revisiting the resistance-flipped to support levels, the asset is consolidating heavily very close to ATH.
Source: Tradingview Date: 05-01-2022 Time: 01:10pm
- The NEAR price is constantly forming bull flags and ranging toward the next resistance levels. After a huge spike, the asset consolidates around the resistance levels and further breaks through the consolidation to hit the immediate resistance.
- Currently, the NEAR price has also formed such a pattern, and after a small consolidation is expected to pierce through the pattern and head towards the levels above ATH.
- A small correction may also be set in place that may drag towards the local support levels that reside along with the 50-day MA levels around $15.
- Yet, the uptrend is already set in place that may further uplift the price towards the $20 target in the next fortnight.
Near Protocol(NEAR)/USDT Technical Analysis for Today: 05 January 2022
The Near Protocol crypto price began its previous trade with an extreme bullish momentum and propelled high to HIT levels above $15. The bull run continued during the early hours of the present-day trade that managed to break through the resistance to mark the daily highs around $17.664.
However, the NEAR price is currently experiencing a slight pullback, but the asset is attempting to regain its lost positions at the earliest. The trading volume has depleted a little compared to that of the previous day trade and the early trading hours. And hence the price may continue with the consolidation, but also try to surge slowly yet steadily. Eventually, the NEAR price may hover close to the daily highs and close the third consecutive day on a bullish note.
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