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The post <a href="https://coinpedia.org/price-analysis/near-price-at-6-base-offers-a-buy-the-dip-moment/">NEAR Price At $6 Base Offers A Buy The Dip Moment</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The cryptocurrency market entered the 2024 quarter 2 with a surge in volatility following the Bitcoin price pullback below $70000. This reversal triggered a fresh wave of correction in the majority of major cryptocurrencies including Near Protocol (NEAR). 
Since mid-March, the NEAR price has experienced a steady correction, falling from $9 to $6, which marks a 33% decrease. However, with pullback sustaining above 50% retracement level and developing a bullish chart pattern, indicating this asset is poised for further growth. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/04/05133806/image-186-1024x509.png" alt="" class="wp-image-287404" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/05133806/image-186-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133806/image-186-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133806/image-186-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133806/image-186-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133806/image-186-150x75.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133806/image-186.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<a href="https://www.tradingview.com/x/Ua5DNNFb/">Tradingview</a>&nbsp; 
Amid the broader market correction, the NEAR coin price showcased a retracement to the $6 psychological level. This support coinciding with the 50-day EMA and above 50% FIB level creates a high area of interest(AOI) for buyers. 
On April 3rd, the altcoin witnessed its second reversal from $6 leading to a 13% upswing to reach $6.7. Currently, the Near protocol holds a market cap of $7.146 Billion, with a trading volume of $548.1 Million. 
Furthermore, an analysis daily chart reveals the formation of a bullish pennant pattern as the current correction strictly resonates within two converging trendlines after the aggressive rally. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="466" src="https://image.coinpedia.org/wp-content/uploads/2024/04/05133813/image-187-1024x466.png" alt="" class="wp-image-287405" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/05133813/image-187-1024x466.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133813/image-187-300x137.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133813/image-187-768x349.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133813/image-187-1536x699.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133813/image-187-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/04/05133813/image-187.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source: <a href="https://www.tradingview.com/x/PBXRMMGN/">Tradingview</a> 
The pennant chart pattern is commonly observed in an established uptrend as the price tends to consolidation/correct for a brief period to regain its exhausted momentum. 
Technical indicators: 
Bollinger Bands: The NEAR price challenging the upper boundary of Bollinger band indicator projects the buyers are aggressively accumulating this asset. 
EMA: The 50-day EMA slope acts as a dynamic support for NEAR price during market pullbacks. Moreover, an uptick indicates the short rally align with broader bullish trend&nbsp; 
<h2 class="wp-block-heading" id="h-will-near-price-correction-reach-5">Will NEAR Price Correction Reach $5?</h2> 
With an intraday gain of 0.68%, the NEAR coin price is gradually leading to the upper boundary of the pennant pattern. Should a breakout occur, the buyers will gain a suitable launchpad to prolong the prevailing recovery trendline. 
The post-breakout rally may drive the NEAR price to $10 milestone, followed by an ambitious target of $12.5. 
On the flip side, a breakdown below the $6 support could extend correction to $5.1.

NEAR Price At $6 Base Offers A Buy The Dip Moment

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