Current NEAR Protocol (NEAR) Market Data:
• Price: $4.82
• Market Cap: $5.33 billion
• Price Change (24h): +$0.20 (+4.39%)
• Market Cap Change (24h): +4.31%
• 24-Hour Volume: $396.86 million
• All-Time High (ATH): $20.44 (January 2022)
• All-Time Low (ATL): $0.53 (November 2020)
• Circulating Supply: 1.107 billion NEAR
• 24-Hour High/Low: $4.86 / $4.60
NEAR has gained 4.39% over the past 24 hours, showing positive momentum after a recent price dip. The price has moved from a low of $4.60 to the current level of $4.82, signaling potential short-term bullish momentum.
Technical Analysis Using Stocknai:
1. Support & Resistance Levels:
• Primary Support: $4.60 (Recently Tested Support)
• Resistance Level 1: $4.85 (Immediate Resistance)
• Resistance Level 2: $5.00 (Psychological Barrier)
NEAR is currently trading near the $4.85 resistance level. If this level is breached, the next target will be $5.00. However, if the price reverses, $4.60 serves as a critical support .
2. Key Technical Indicators:
• RSI (Relative Strength Index): RSI is currently near 55, indicating moderate bullish momentum without reaching overbought conditions.
• MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, indicating bullish momentum is building. This is a positive signal for further upward movement.
• Bollinger Bands: NEAR is nearing the upper band, suggesting increasing volatility and potential for further upward movement if price breaks above the $4.85 level .
3. Price Patterns:
• Ascending Triangle Pattern: NEAR is forming an ascending triangle, which is typically a bullish continuation pattern. A breakout above the $4.85 resistance could signal a move toward $5.00 .
Stocknai Algorithm Prediction:
• Short-Term (1-3 Days): Stocknai predicts a 65% probability of NEAR breaking the $4.85 resistance and moving toward $5.00. If this level is reached, further gains toward $5.20 could follow in the short term.
• Mid-Term (7-10 Days): If NEAR sustains momentum above $5.00, the next target could be $5.20-$5.40. However, failure to hold above $4.60 could see a retest of the $4.40 level .
News Sentiment (Investing, Bloomberg, Reuters, Reddit):
• Bloomberg & Reuters: Recent market reports highlight NEAR’s ongoing ecosystem growth, which has fueled positive sentiment. However, broader market concerns about macroeconomic conditions remain a potential risk factor.
• Reddit Discussions: Traders on Reddit express optimism about NEAR’s short-term prospects, with several viewing the $4.60 support level as a good buying opportunity. However, there is caution about the $5.00 psychological resistance .
Strategy Recommendation (1D Timeframe):
Long Strategy:
• Buy Zone: Around $4.60-$4.70, taking advantage of the recent dip and recovery momentum.
• Take-Profit Target: $5.00-$5.20, with a trailing stop to lock in gains if the price moves higher.
• Stop-Loss: Below $4.50 to limit downside risk if momentum fades.
Risk Management:
• Trailing Stop: Consider setting a trailing stop once the price breaks above $4.85 to secure profits if the price reverses after testing $5.00.
Conclusion:
NEAR is currently showing strong bullish momentum with potential to test the $5.00 resistance level in the short term. If this level is breached, further gains to $5.20 are possible. However, if the price fails to hold above $4.60, a retest of lower levels may follow.