Near Protocal is Bullish
$NEAR Protocol continues to show strong potential with its recent price movements and solid upward trends.
By strategically buying on dips, monitoring key resistance levels.
NEAR Protocol Market Analysis and Strategy
• Current Market Overview:
• Current Price: $7.8164 (up 1.46% in the last 24 hours and 13.45% in the last 7 days)
• Support Zones: $6.00 (previous resistance), then $4.60
• Resistance Zones: $7.70 (recently broken), then $9.00
• All-Time High (ATH): $20.44 (down 61.76% from ATH on Jan 16, 2022)
• 52-week High: $9.0084 (down 13.23% from this level)
Trends:
• Short-term: Strong Up
• Medium-term: Strong Up
• Long-term: Strong Up
Momentum Indicators:
• MACD: Bullish (Signal Line crossover)
• RSI-14: Bullish (Center line crossover, RSI > 50)
• RSI-14 Levels: Currently neither overbought nor oversold (RSI > 30 and RSI < 70)
Buying on Dips:
• Consider buying if the price dips to $7.00 or further down to $6.00.
• These levels have previously acted as strong support and are good entry points for accumulating more NEAR tokens.
Monitoring Resistance Levels:
• Keep an eye on the $7.70 resistance zone, which has been recently broken. If the price stays above this level, it could become new support.
• Watch for the next resistance at $9.00. Breaking and holding above this level could indicate further upside potential.
Risk Management:
• Always set stop-loss orders to manage risk effectively. For short-term traders, a stop-loss slightly below $7.70 might be prudent. For longer-term positions, setting a stop-loss below $6.00 can protect against significant downturns.
By following these strategies, you can navigate the current market conditions of NEAR Protocol effectively, balancing both potential gains and risk management.
