NEAR Protocol price analysis: NEAR defies bearish trend to touch $10 record high

TL;DR Breakdown

• The NEAR Protocol price analysis shows NEAR/USD hits an all-time high.
• NEAR/USD finds resistance at $10.
• Strong support is found at the $7.76 mark.
• NEAR gained 26 percent value in 24 hours.

The NEAR protocol price analysis reveals NEAR hits all-time high as price surges to $10. NEAR gained almost 26 percent value during the last 24 hours. However, bearish signs were emerging during the past days, making it a market rebel when altcoins are depreciating fast. NEAR/USD gained overall a value of 52 percent during the previous week.

NEAR is the native token of NEAR Protocol blockchain, which is a community-governed and is privacy-based blockchain. However, the authorities are cracking down on privacy coins. Still, NEAR is following the footsteps of Litecoin in the privacy options by providing decentralized blockchain services businesses can avail of without being visible to the entire network. NEAR Protocols SOP is user-friendliness.

NEAR/USD 1-day price chart: NEAR observes all-time high during altcoins recession

The 1-day Near Protocol price analysis chart shows a strong bullish momentum taking the price to a record high of $10 at the time of writing. Though the past week saw some bearish activity, yesterday, an unbelievable spike happened, and the price went shooting past the resistance of $6.15 to $8.6 by gaining a value of 27 percent. Today proved to be another jump start for the Near token.

The volatility is increasing significantly as the Bollinger bands are widening up steeply. The upper Bollinger band is present at the $8.3 mark, and the lower band is present at the 3.44 mark while both bands are moving incredibly far apart. The Bollinger bands average is at $5.9, whereas the moving average is at the $6.6 mark. Both the averages are below the price level.

The relative strength index (RSI) is far above the overbought limit and shows a score of 84. it seems time for RSI to reverse back a bit.

NEAR/USD 4-hours price chart: Correction signs emerge as selling pressure builds

The 4-hours NEAR Protocol price analysis shows some bearish activity during the last hours as most traders seem to be booking profits after the new all-time high. Bears have succeeded in bringing the price down to the $9.8 mark during the past few hours.

The volatility is still increasing, as are suggesting the Bollinger bands. The price level is still above the upper limit of the Bollinger band, which is at the $9.4 mark, and the lower limit is at the $4.3 mark. The Bollinger bands average and moving average are below the price level and are at $6.9 and $7.4, respectively.

The relative strength index (RSI) has come down a bit and moving further below but is still above the overbought limit at a score of 73.

The technical indicators for NEAR Protocol price analysis are strongly bullish for today. Out of 26 indicators, 16 are on the buying side and only one on the selling side, while nine stands neutral.

The moving averages are also bullish by showing 14 signs at buying spot and zero at the selling spot, whereas one stands neutral. The oscillators are almost neutral, with as many as eight standing neutral, two showing a buy sign, and only one showing a sell sign.

NEAR Protocol price analysis: Conclusion

The 1-day and 4-hours NEAR Protocol price analysis shows a solid bullish trend as the NEAR/USD pair hit the record high. Presently a slight selling pressure is developing from the market as the NEAR/USD pair is above the overbought mark.

If the pressure continues, the price may fall back to yesterday’s level. It still seems to be a hit-or-miss situation for the intraday traders.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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