NEAR Crypto Faces Key Resistance as Bullish RSI Holds Firm

The $NEAR crypto has been seeing a volatile trend in the cryptocurrency market. Analyzing data on the 1-hour chart gives a clearer perspective of the underlying market dynamics.

Closing prices for #NEAR crypto have shown marginal volatility and slight bearishness by settling down from $4.924 to $4.872 over the observed period. Yet, an unexpected surge was noticed later, offering a fresh perspective on potential market direction.

The 9 Exponential Moving Average (EMA) has been struggling to surpass the closing price lines, escalating from $4.779 to $4.828. Simultaneously, the 20 EMA also demonstrated an increasing pattern from $4.675 to $4.736.

Meanwhile, the MACD (Moving Average Convergence Divergence) remained consistently positive. Despite a small dip from 0.0996 to 0.0990, the signal line didn't showcase any drastic fluctuation, indicating a relatively static bearish sentiment.

The Relative Strength Index (RSI), a momentum oscillator, remained above the 60 mark throughout, hitting a high of 70.20 but then slightly retreating to 64.46. This suggests that the NEAR crypto is currently in a bullish phase.

Support levels are identified at $4.443, $4.421, and $4.31, providing potential cushions for the NEAR crypto in case of a downward trend. Despite the bearish indicators, these support levels are significantly lower than the current trading range, hinting at significant room for downward movement before encountering support. The full analysis and trade strategy were posted on www.ecoinimist.com.