Dogecoin

Resistance

<p>Near Protocol has spiked by close to 20% in the last 3 days, sparking speculations that it could be up for an elongated rally. However, a quick look at price action suggests that the overall sentiment is still bearish as NEAR’s price remains within a descending channel.</p>
<p>This pattern has restricted its <a href="https://www.investopedia.com/terms/d/downtrend.asp" target="_blank" rel="noopener noreferrer nofollow">price movement to a downtrend</a>, forming lower highs and lower lows since May. If this continues, we could see NEAR drop by more than 30% to form a new lower low.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="480" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-1024x480.png" alt="" class="wp-image-556472" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-1024x480.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-300x141.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-768x360.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-1536x720.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-2048x960.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-320x150.png 320w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-746x350.png 746w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318-788x369.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-318.png 1802w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>However, for a breakthrough, <a href="https://captainaltcoin.com/near-protocol-eyes-breakout-can-near-bulls-sustain-momentum/" target="_blank" rel="noopener noreferrer nofollow">Near Protocol</a> will have to break out from the top of the descending channel pattern, which has consistently served as resistance over the past five months. Breaking this could bring in bullish pressure as users seek to exploit the buying opportunity.</p>
<h2 class="wp-block-heading" id="how-likely-is-a-breakout-from-the-descending-channel-pattern">How Likely Is a Breakout from the Descending Channel Pattern</h2>
<p>Now that the price has reached the resistance again, how likely is it to break out?</p>
<p>The Relative Strength Index (RSI) is at 57, showing that the price has a lot of room to run in case of increasing bullish momentum. This metric supports further price growth as bulls may be more confident to push the price up since a retracement may not be near.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/kaspa-smashes-solana-and-ethereum-in-this-on-chain-metric-kas-price-stays-flat/" target="_blank" rel="noopener noreferrer nofollow">Kaspa Smashes Solana and Ethereum in This On-Chain Metric, KAS Price Stays Flat</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="480" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-1024x480.png" alt="" class="wp-image-556480" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-1024x480.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-300x141.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-768x360.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-1536x720.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-2048x960.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-320x150.png 320w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-746x350.png 746w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319-788x369.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-319.png 1802w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The 50-day Simple Moving Average (SMA) is currently serving as support for the price, indicating that buyers are in control in the short term. However, the medium-term 100-day SMA is above the price, just at the strong resistance point.</p>
<p>These two indicators are showing mixed pictures, with the RSI suggesting there’s room to run in case of bullish momentum. The 50-day SMA is also supporting further price growth, while the 100-day SMA could potentially act as resistance.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 450K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/near-protocol-near-price-surges-reaches-5-month-resistance-again-will-it-break-out/" rel="noopener noreferrer nofollow">Near Protocol (NEAR) Price Surges, Reaches 5-Month Resistance Again: Will It Break Out?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Near Protocol (NEAR) Price Surges, Reaches 5-Month Resistance Again: Will It Break Out?

Table of Contents

CaptainAltcoin

Other articles published on Sep 19, 2024

Trump Shocks the World: Pays with Bitcoin!

Weekly Article Recap: 9/02-9/06

Dfinity, Cambodia agree on advancing smart city innovation

Ether.Fi Partners with Scroll to Launch Crypto-Backed Visa Credit Card

Michael Saylor's MicroStrategy to Issue $700M in Senior Convertible Notes to Buy More Bitcoin

Louisiana Becomes First State to Accept Crypto Payments

Join our free newsletter for daily crypto updates!