NEAR Protocol

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/near-coin-faces-continued-decline/" data-wpel-link="internal">NEAR Coin Faces Continued Decline</a> 
BTC price losses have already significantly weakened altcoins. However, worse scenarios are possible. We have now reached the days of the week where macroeconomic <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> will determine the direction. Data expected on Thursday and Friday is anticipated to trigger increased volatility in crypto. GDP data will be released tomorrow, and on Friday, we will see the PCE data to understand the inflation situation in the US. 
<h2 style="text-align: justify" id="near-protocol-near">NEAR Protocol (NEAR)</h2> 
The decline has been ongoing for a long time, and continued sales for NEAR Coin are likely. Demand has been decreasing for 30 days, and this was one of the reasons for the double-digit drop specific to NEAR Coin. Despite being among the Sam Coins, NEAR could not achieve the desired increase even after the FTX collapse. We have been talking about the strengthening competitive environment for a long time, and this will be one of the most discussed topics in the new <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a>. 
As of June 24, the total number of completed transactions on Near was around 7.7 million. The decline in daily transaction numbers is linked to the decrease in the number of unique active addresses on the network. In other words, NEAR Coin on-chain signals are now alarming. 
The number of daily active addresses on Near has dropped by nearly 20% since reaching 2.2 million on June 14. Due to the weakening network activity, network revenues have also decreased by 38%. Considering the current weakness in BTC price, further declines in the coming days would not be surprising. 
<h2 style="text-align: justify" id="near-coin-predictions">NEAR Coin Predictions</h2> 
The price, which has fallen by 30% in 30 days, may continue to drop. For the <a href="https://en.coin-turk.com/toncoin-reaches-highest-levels-with-recent-updates/" data-wpel-link="internal">altcoin</a> at $5.27, MACD is giving a significant bearish signal. This indicator, which investors use to predict price trends and potential movements, currently shows that short-term momentum is weaker than long-term momentum, indicating an approaching decline. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-365440 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/MACD-NEAR.png" alt="" width="1778" height="838"> 
Historically, investors tend to sell until signs that the MACD line has crossed above the signal line and the zero line. Due to this, NEAR Coin investors avoiding long positions fail to generate the necessary demand, causing the price to drop further. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-365441 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/NEAR-Coin-Dusecek-mi.png" alt="" width="1767" height="836"> 
In summary, NEAR Coin price may fall below $5. In the opposite scenario, if buyers return, $5.45 is expected to be reclaimed. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/near-coin-faces-continued-decline/" data-wpel-link="internal">NEAR Coin Faces Continued Decline</a></h5>

NEAR Coin Faces Continued Decline

Inhoudsopgave

COINTURK NEWS

Andere artikelen gepubliceerd op 26 jun 2024

Millions in Bitcoin Liquidated in One Day: Does This Signal Trouble for BTC’s Value?

Unstoppable Altcoins With Massive Growth Potential For 2024

New Solana Memecoin Degen Black Pepe to Skyrocket 17,000% in 48 Hours – Should You Buy?

Celestia TIA Surges 11 Percent Approaching Critical 11 EMA Resistance

SEC Chair Gary Gensler Will Make Biden Lose the 2024 Presidential Race

Crypto Market Shows Positive Trend with Bitcoin Leading the Way

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!