According to U.Today, the Near Protocol is at a pivotal moment that could greatly affect its price. Currently, NEAR is trading at approximately $6.87. An analysis of NEAR's price chart indicates that it is on the brink of a significant test. The chart reveals a downward trendline that NEAR's price has been following. If NEAR's price surpasses this line, it could potentially trigger a rapid price increase.
Two key prices to note on the chart are the 'support' level at around $5.64 and the 'resistance' level near $7.00. The support level is mirrored in the 50 EMA; if NEAR's price falls to this point, it could rebound and ascend again. If NEAR's price can break through this, it might continue to rise.
For NEAR to demonstrate substantial growth, it needs to break through the trendline and surpass the resistance level of $7.00. If it manages to do this, it could indicate that NEAR is beginning to rally, which means its price could start to increase rapidly and sustain this momentum for some time. However, if NEAR fails to surpass this level, it might remain below the trendline, which could result in a slower price growth.
The future of NEAR's price hinges on whether it can pass these tests. If it breaks the trendline and surpasses the resistance, the next significant price to watch would be around $8.07, which is the next level of resistance. Conversely, if NEAR's price decreases, it could find support at $5.64, where it might cease to fall and stabilize.