Current Data

  • Price: $6.73

  • 24h change: -1.50% (slight decrease).

  • Trading volume: $588.52 million.

NEAR is hovering near the key support level of $6.55, with a slight bearish bias. This begs the question: Is this a buying opportunity or a warning signal to exit the market?

Factors Affecting NEAR Price

  1. Technical Analysis (TA):

    • RSI: Near 45 – selling pressure still dominates.

    • MACD: Bearish crossover signal.

    • Bollinger Bands: Price touches near lower band, may recover slightly but main trend is still down.

  2. Cash Flow (BTC.D):

    • BTC Dominance Slightly Increases, Taking Attention Off Altcoins Like NEAR.

  3. Volumetric Analysis (VSA):

    • Decreased volume in a downtrend – a sign of distribution, showing that selling pressure is taking over the market.

  4. Price Action (PA):

    • The recent strong bearish candle shows strong selling momentum.

Proposed Strategy

Currently, NEAR is not strong enough to trigger a BUY signal, but it has not yet fallen into a strong SELL zone. The best course of action at this time is to HOLD and watch for important price levels:

  • Support $6.55: If broken, a strong bearish signal (SELL) will appear.

  • Resistance $7.02: If price breaks above this level on high volume, this could be a positive signal to buy.

Why Follow NEAR?

  • Long-term potential: NEAR is one of the leading Layer 1 blockchains with strong scalability, always in the long-term investment portfolio of many large funds.

  • Market is Accumulating: If the general market recovers, NEAR could breakout along with the flow of money from BTC into Altcoins.

Conclude

With the current signal point at -0.26, NEAR is leaning towards a slight downtrend. However, this is not the time to rush into action. Be patient and watch the support and resistance levels to make the optimal decision. 🚀