Momentum

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Near Protocol price has crossed the meaningful hurdle of $7 and eyeing the $7.50 mark.</a> </li> 
 <li> <span>2</span> <a>Buyers have picked strength and are looking to accelerate the reversal.</a> </li> 
</ul> 
<p>The Near Protocol (NEAR) has overtaken the round mark of $7 and has displayed a falling wedge pattern breakout on the charts.</p> 
<p>For weeks, the NEAR crypto was delivering the lower low swings and has retested the neckline region of $5. Afterward, buyers handled the selloff and a significant rebound over 34% was noted in the last two weeks.</p> 
<p>At press time, the Near Protocol crypto (NEAR) price traded at $7.092 with an intraday gain of 3.69%, reflecting a bullish stance. It has a monthly return ratio of 5.33% and 280% yearly, signifying a long term bullish trend.</p> 
<p>The pair of NEAR/BTC is at 0.000111 BTC, and the market cap is $4.30 Billion. Analysts are bullish and suggest that the NEAR crypto may cross the prompt hurdle of $7.60 and will retest the $9 mark soon.</p> 
<h2 class="wp-block-heading" id="strong-can-near-protocol-near-trigger-the-rally-strong"><strong>Can Near Protocol (NEAR) Trigger The Rally?</strong></h2> 
<p>On the daily charts, a neat, clean reversal was displayed and buyers have entered the battle and made sellers into trouble. The key support zone of $5 was retested and the sellers were trapped there.</p>    
<p><a href="https://www.tradingview.com/chart/NEARUSDT/J2d0OGya-NEAR-Price/"></a><a href="https://www.tradingview.com/u/TheCoinRepublic/"></a><a href="https://www.tradingview.com/"></a></p>  
<p class="has-text-align-center">Source: TradingView</p> 
<p>The NEAR <a href="https://www.thecoinrepublic.com/?p=204476&amp;preview=true" target="_blank" rel="noreferrer noopener">price</a> has folded the correction and renewed higher high swings was noted. A break and close above the $7.60 will accelerate the bullish wave and the price may jump toward the $9 mark soon.</p> 
<p>However, this week, the trading volume remained average and noted an intraday surge over 23.89% to $299.57 Million.</p> 
<h3 class="wp-block-heading" id="strong-what-do-technical-indicators-suggest-strong"><strong>What Do Technical Indicators Suggest?</strong></h3> 
<p>On an analysis over 26 indicators, only 1 indicator gave a sell call, whereas 9 has given a neutral call, and 16 indicators initiated buy call, displaying short term and long term bullish signals.</p> 
<p>The Momentum indicator (RSI) displayed a positive divergence, and the curve rose to the overbought zone. Likewise, the MACD indicator displayed a bullish crossover and formed green bars on the histogram.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (NEAR), Weighted sentiment (Total) (NEAR)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=avalanche&amp;pt=AVAX&amp;df=2023-11-03T18%3A29%3A59.188Z&amp;dt=2024-05-03T18%3A29%3A59.188Z&amp;sat=shchcfg_g6anq_vi6xKw&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bnear-protocol%3BNEAR%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bnear-protocol%3BNEAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p class="has-text-align-center">Source: Santiment</p> 
<p>The price volatility curve has given an up move and spiked over 2.39%, noting around 0.019 mark. Similarly, the weighted sentiment data signifies a strong positive outlook, the value sustained in the bullish region around 0.912.</p> 
<p>Per the Fibonacci retracement levels, the NEAR price has cleared the 38.2% zone and is eyeing to breach the 50% zone. However, the buyers have a challenge – to cross the $7.60, the nearest resistance mark.</p> 
<p>Near Protocol crypto market cap soared over 1.57% to $4.32 Billion, whereas the total supply was noted at 1 Billion. However, the coin ranked at 31 per the market cap listing.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The Near Protocol (NEAR) price has gained momentum and surpassed the significant moving averages. Moreover, the trend is positive and buyers are showcasing their strength, which might result in a bull rally soon.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels:</strong> $7 and $6.60</p> 
<p><strong>Resistance Levels:</strong> $7.60 and $8</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Near Protocol (NEAR) Looks Bullish: Can Bulls Reach $10 This May?

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