NEAR Protocol (NEAR) Sees Decrease by 11.63% in Past 24 Hours

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NEAR Protocol (NEAR) Sees Decrease by 11.63% in Past 24 Hours
  • NEAR price has decreased by 11.63% within the past 24 hours.
  • Bearish NEAR market price prediction is $3.226.
  • According to CoinMarketCap, the price of NEAR hovers around $4.42.

NEAR Protocol (NEAR) has dipped by 11.63%, according to the estimates of cryptocurrency market tracker, CoinMarketCap.

At the time of writing, NEAR ranks 24th in CoinMarketCap’s list, with a market capitalization of $3,496,051,235.75. NEAR currently trades at $4.42 after reaching a high of $5.03, with a price decrease of 11.63% within 24 hours.

NEAR/USDT 1H Chart  (Source: TradingView)

Above is the 1-hour analysis chart of NEAR/USDT.  After trading above the 200 MA for several days, NEAR recently broke out the 200 MA. The NEAR/USDT RSI is currently at 36.93, having fallen from a peak of 69.02. An indicator below 50 signifies a downward trend in the market.

When we look at the Keltner Channel chart, one of the technical indicators used to measure the volatility bands, the NEAR price can be predicted. Using the Keltner Channel also determines the current market trend. Since NEAR is currently halfway through the second half of the channel, more people are selling it than buying it.

NEAR/USDT 1H Chart  (Source: TradingView)

A price analysis of the above 1-hour chart of NEAR/USDT shows that NEAR is now trading within a channel. The current support zone is between $4.096 and $3.957, and the potential resistance zone is between $5.300 and $5.132.

The potential price range for NEAR is $5.819 if it can rise from its current position below the trend line and overcome the current resistance. On the other hand, NEAR could reach a price of about $3.226 if the bears are compelled to dump the price even further.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.