Long

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/near-coin-faces-persistent-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">NEAR Coin Faces Persistent Decline</a><br></p>
<p style="text-align: justify">Cryptocurrencies are experiencing a challenging period, with no significant upward surprises in sight. <a href="https://en.bitcoinhaber.net/goldman-sachs-highlights-potential-of-bitcoin-etfs-for-institutional-investors" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent attempt to reach $65,000 offered a glimmer of hope, but investors quickly sold off to minimize losses, causing further declines. With weak new demand, concerns are mounting over NEAR Coin’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a>.</p>
<h2 id="near-coin-analysis">NEAR Coin Analysis</h2>
<p style="text-align: justify">NEAR Coin, once benefiting from Sam Bankman-Fried’s support before the FTX collapse in November 2022, has been on a downward spiral. The revelation of FTX’s fraudulent activities marked the beginning of significant losses for NEAR Coin, exacerbated by bearish <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>. The coin is now struggling in the absence of positive momentum.</p>
<p style="text-align: justify">Since August 24, NEAR Coin’s price has been consistently dropping, hitting resistance under a descending trend line. This line serves as a barrier, favoring further declines unless broken. Without overcoming this resistance, the downtrend is likely to persist.</p>
<h2 id="near-coin-price-prediction">NEAR Coin Price Prediction</h2>
<p style="text-align: justify">NEAR Coin’s Aroon Down Line is above 85%, indicating a strong downtrend that could reach 100, signifying a market bottom. Although a reversal is anticipated, more declines are plausible in the short term. On-Balance-Volume (OBV) also suggests that sellers dominate NEAR Coin, mirroring trends seen in other altcoins.</p>
<p style="text-align: justify">The end of August saw an increase in long positions in NEAR Coin futures, reflecting a pattern where such positions are often liquidated before any significant rise. If these positions grow, a test towards $4.47 may occur. Conversely, a new bottom could form after a 23% drop, leading to potential liquidations.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>NEAR Coin continues to struggle under a descending trend line, indicating further possible declines.</li>
 <li>Aroon Down Line positions above 85% signal a strong downtrend with potential for further drops.</li>
 <li>On-Balance-Volume data confirms seller dominance, aligning with trends in other altcoins.</li>
 <li>Long positions in futures markets may lead to significant liquidations before any upward movement.</li>
 <li>Potential tests towards $4.47 hinge on the size and behavior of long positions.</li>
</ul>
<p style="text-align: justify">In conclusion, NEAR Coin faces a challenging path ahead with bearish trends persisting. Investors need to stay cautious, monitoring key indicators and market behaviors closely to navigate potential risks and opportunities.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/near-coin-faces-persistent-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">NEAR Coin Faces Persistent Decline</a></h5>

NEAR Coin Faces Persistent Decline

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