NEAR Protocol Technical Analysis with Latest Data from Coingecko
General Information
• Current price: $4.03
• 24h high: $4.08
• 24h Low: $3.75
• Price increase in 24h: +7.16%
• All-time high (ATH): $20.44 (-80.20% from ATH)
• 24h trading volume: $251.74 million USD
• Market capitalization: $4.46 billion USD
• Circulating supply: 1,107,181,322 NEAR
Apply 14 Combined Indicators
1. Identify the Main Trend
• MA (Moving Average): Use the 50-day and 200-day MA lines. NEAR is currently still below the 200-day MA but has crossed above the 50-day MA, indicating a positive short-term trend.
• EMA (Exponential Moving Average): The 20-day EMA is supporting the price, indicating that the short-term bullish momentum is strong.
2. Identify Overbought/Oversold Zones
• RSI (Relative Strength Index): The current RSI is around 60, showing that NEAR still has room to increase without entering the overbought zone.
• Stochastic Oscillator: Stochastic is near 70, showing bullish signal but needs further monitoring to avoid falling into overbought zone.
3. Volume Analysis
• Volume: Trading volume has increased sharply in the last 24 hours, confirming support for the current uptrend.
• MACD (Moving Average Convergence Divergence): The MACD line is crossing above the signal line, creating a buy signal.
4. Identify Support and Resistance Levels
• Fibonacci Retracement: Identify Fibonacci levels from the recent high ($20.44) to the recent low ($3.75). The 23.6% Fibonacci level around $4.20 could be immediate resistance.
• Bollinger Bands: NEAR price is currently moving within the middle range of Bollinger Bands, with the upper band at $4.10 - $4.20, indicating further upside potential.
5. Find Entry/Exit Points
• Parabolic SAR: The current SAR point is below the price, giving a buy signal.
• CCI (Commodity Channel Index): CCI is at 100, indicating a strong uptrend.
Order Entry Strategy
• Entry: $4.00 - $4.03 (near 20-day EMA support and psychological resistance $4.00).
• Take Profit (TP): $4.20 - $4.30 (near the upper border of Bollinger Bands and the 23.6% Fibonacci level).
• Stop Loss (SL): $3.80 (below the 24-hour low and near the psychological support level of $3.75).
Probability of Achieving Goal
• TP Probability: 70% (based on strong trading volume, MA trend, and momentum indicators).
• SL Avoidance Probability: 80% (SL is set at strong support level and based on recent price movements).
Conclude
NEAR Protocol is in a strong uptrend with many positive signals from technical indicators. With entries near $4.00, setting a profit target at $4.20 - $4.30 and a stop loss below $3.80 is a reasonable strategy to optimize profits in the short term. However, it is necessary to continue monitoring the market and technical indicators to adjust the strategy if necessary.
