- The NEAR price closed the previous day’s trade at INR 722.59 with a market capitalization of INR 506,085,008.393 and a circulating supply of 681,028,981 NEAR
- Near Protocol after slicing through the pivotal levels is attempting very hard to regain the lost levels, but the bears appear to be primed to slash the price harder
- The asset is expected to maintain the descending trend and eventually shed another 10% to 15% by the end of the month’s trade
Price Comparison Table
|Crypto-Asset||Start-Month Price (April)||Mid-Month Price (April)||End-Month Price (April)||% Change|
|Near Protocol (NEAR)||INR 1119.67||INR 1222.68||INR 790.51||-29.39%|
* As of May 10, 2022.
Near Protocol (NEAR) Technical Analysis at a Glance
Near Protocol in recent times underwent a couple of huge spikes and also dropped with the same momentum. However, in each case, the lower support along the uptrend line was maintained strongly. And each time the price visited these levels, ignited a strong flip. However, the recent market slash dragged the price beneath and restricted the price to recover above these levels.
Check out the Latest Prices, Charts, and Data of NEAR/USDT.
|Short-Term(1hr)||After the brutal slash, the NEAR price is preparing for a significant upswing to regain the lost position above the trend line|
|Mid-Term(4hr)||A significant clash between bears and the bulls is seen and hence the price could consolidate around the present levels for some time|
|Long-Term(D)||The selling volume is easing out but the buyers have not strongly entered the ring. Therefore, the upcoming couple of days may witness a descending consolidation|
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1D / 1M)||Action (1D / 1M)|
|Relative Strength Index(RSI)||35.49 / 100||Sell / Overbought|
|MACD(12,26)||-75.24 / 242.53||Sell / Buy|
|Average Directional Index(ADX)||39.67 / 52||Sell / Buy|
|Bull-Bear Power||-298.66/ 498.46||Sell / Buy|
|Moving Average(MA)-50||INR 1123.03||INR 672.03||INR 159.12|
|Moving Average(MA)-200||INR 960.87||INR 168.01||INR 39.78|
|Resistance||INR 989.41||INR 1031.59||INR 1360.89|
|Support||INR 630.67||INR 574.56||INR 403.13|
|Average True Range(ATR)||95.25||254.77||403.35|
The NEAR price ignited May’s trade on a significant bullish note by ranging high by more than 25%. However, with a recent couple of market slashes, the price plunged hard by nearly 27% forcing the price to fall into a deep bearish well. And hence currently, the asset is extremely bearish in most of the time horizons. However, in the longer time frame, a minor recovery may be expected but it may not be a strong one.
In the present case, the strength of the rally is extremely weak while the volatility is pretty high. Therefore, the price may continue plunging hard as its volatile sudden flip on either side is pretty possible for some more days.
Additional Read: GALA Price Prediction
NEAR Price and Technical Analysis for May-July
- The NEAR price after the recent slash dumped hard towards the pivotal support zones and in the due course, the price slashed below the crucial uptrend line that is maintained for more than 10 months
- As the market sentiments are extremely negative, the prices are expected to drop hard and plunge hard below INR 500 very soon
- However, one cannot expect a steep rebound as it happened during the May 2021 crash as Bitcoin still appears to be pretty destabilized a bit and until some signs of are strength is not seen with BTC price, markets tend to drop further
- Therefore, the Near Protocol price, even if flips from the bearish trend at certain levels, may end up consolidating for an extended period
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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 [email protected].
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