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<ul> 
 <li><em>NEAR maintained its higher timeframe bullish bias after the remarkable rally in December.</em></li> 
 <li><em>A fall below $3.8 could take the token to $3, especially if BTC falls below $42k.</em></li> 
</ul> 
<p><a href="https://ambcrypto.com/search/near" target="_blank" rel="noopener" data-wpel-link="internal">Near Protocol [NEAR]</a> saw its token skyrocket in value in the past two months, gaining 300% from 20th October to 26th December. Since then, the prices have dropped a little. However, the higher timeframe bullish bias remained.</p> 
<p>The selling pressure has not been intense and the pullback could be part of a healthy uptrend before the next move higher. Some support zones for NEAR buyers to watch were highlighted.</p> 
<h4><strong>The 50% retracement level could keep the bears at bay</strong></h4> 
<div id="attachment_361154" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-price.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-361154" decoding="async" class="wp-image-361154 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-price.png" alt="NEAR prices slide 20% within three days- are more losses predicted?" width="1940" height="976" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-price-300x151.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-price-1024x515.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-price-768x386.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-price-1536x773.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-361154" class="wp-caption-text">Source: NEAR/USDT on TradingView</p>
</div> 
<p>The token has rallied 86% in 11 days. As such, the daily chart was surely bullishly biased. The RSI was above neutral 50 to reinforce the idea that upward momentum was dominant.</p> 
<p>Moreover, the OBV has also continued to trend higher. The pullback of the past three days did not dent its advance.</p> 
<p>This meant that selling pressure was weak and NEAR would be ready to rally once it retests key support levels. The Fibonacci retracement levels (pale yellow) at $3.34, $3.04, and $2.61 were the levels to watch out for.</p> 
<p>The $3.34 level has a lower timeframe consolidation zone nearby, marked in cyan. The $3 is at a psychological support level, and the$2.61 level is in the middle of a fair value gap (white).</p> 
<p>It also sat above a bullish breaker block, distinguishing it as the strongest of the three support levels.</p> 
<h4><strong>The first Fib level could repel the sellers</strong></h4> 
<div id="attachment_361153" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-hyblock.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-361153" decoding="async" class="wp-image-361153 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-hyblock.png" alt="NEAR prices slide 20% within three days- are more losses predicted?" width="1866" height="1014" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-hyblock.png 1866w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-hyblock-300x163.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-hyblock-1024x556.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-hyblock-768x417.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-NEAR-hyblock-1536x835.png 1536w" sizes="(max-width: 1866px) 100vw, 1866px"></a>
 <p id="caption-attachment-361153" class="wp-caption-text">Source: <a href="https://hyblockcapital.com/liquidationlevel-heatmap" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">Hyblock</a></p>
</div> 
<p>AMBCrypto looked at the liquidation heatmap to aid the analysis of the price charts. The 7-day lookback heatmap from Hyblock gave AMBCrypto some insight into where NEAR could be headed next.</p>  
<p style="text-align: center;">Read <a href="https://ambcrypto.com/predictions/near-price-prediction" target="_blank" rel="noopener" data-wpel-link="internal">Near Protocol’s [NEAR] Price Prediction</a> 2023-24</p>  
<p>To the south, the $3.4-$3.52 area represented a large pocket of liquidity. A sweep of this area could yield a bounce.</p> 
<p>Alternatively, if <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener" data-wpel-link="internal">Bitcoin [BTC]</a> falls below $42k, it is possible that NEAR could drop further to reach the $3 region.</p> 
<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</i></p>

NEAR Protocol predictions backfire as prices slide 20% in 3 days – What now?

AMBCrypto

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