Overall Trend:
NEARUSDT is currently in a strong upward movement, with the price trading significantly above the 200 SMA (Simple Moving Average) at 4.020, confirming a bullish trend.
The price has recovered from its earlier downtrend and surpassed key resistance zones, signaling a potential continuation of the bullish rally.
Support and Resistance Levels:
Immediate Resistance: The price is approaching a resistance zone near the 5.8 to 6.0 level. This area has seen past rejections, and a breakout above this zone could signal further upward momentum.
Immediate Support: Strong support is observed around the 5.0 to 5.2 level, where the price previously consolidated and formed a base for the current rally.
RSI (Relative Strength Index):
The RSI is currently at 64.48, indicating the asset is nearing overbought territory. However, there is still room to climb before signaling a potential reversal or consolidation.
MACD (Moving Average Convergence Divergence):
The MACD histogram shows bullish momentum, with the MACD line crossing above the signal line. This confirms increasing buying pressure and the continuation of the upward trend.
Volume Analysis:
The volume is currently at 1.906M, supporting the recent upward movement and indicating strong market participation. Sustained high volume could further strengthen the bullish trajectory.
Cluster and Zone Analysis:
The second chart highlights a strong demand zone between 4.0 and 4.5, which has been tested multiple times and could act as solid support for future corrections.
The breakout above the resistance cluster between 5.0 and 5.5 indicates bullish strength, confirming a reversal of the previous downtrend.
NEAR is showing strong bullish signals with increasing momentum and volume. However, traders should monitor resistance levels closely, especially near 5.8, as this could determine the next move. While RSI nearing overbought levels suggests caution, the overall trend remains positive.