NEAR Price Prediction: Keep Eyes On Record Highs Around $20.50

Rekha chauhan
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NEAR price continues to print gains for the second session in a row. The price shows an ascent of nearly 17% in the past two days indicating a strong bullish undercurrent.

  • NEAR surges, by 7% as the weekend begins.
  • The buyers can expect the continuation of the rally to all-time-highs placed around $20.50.
  • The volumes gain 41% in the past 24-hours indicating strength in the current price action.
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NEAR price continues north

NEAR price rallied 152% since February 24, indicating the presence of sustained buying pressure. This move comes after NEAR managed to hold the $10.80 to $12.0 supply zone. The swing high and low during this uptrend marked as local top and bottom, forming a perfect upside channel.

Source: Trading View

The ascending trend line, which is extending from the lows of $7.39 acts as a support for the bulls. Furthermore, the price breached the critical horizontal resistance level at $15.80. The move was supported by above the average volumes.

Now, a continuous buying pressure would bring the record highs of $20.46 made on January 16 back in action.

On the contrary, a shift in the buying sentiment along with a daily candlestick below the session’s lows would invalidate the bullish outlook. In this case, the first downside target could be found at the lows of April 1 at $12.55.

A break below the bullish slopping line will accelerate the selling toward the horizontal support at $11.10.

As of press time, NEAR/USD reads at $18.82, up 5.98% for the day. The 24-hour trading volume gains more than 41% in the 24-hours to $2,905,572,243.

Technical indicators:

MACD: The Moving Average Convergence Divergence stands strong above the central line with a bullish bias.

RSI: The daily Relative Strength Index approaches at 71. Although the oscillator trades just near the overbought territory, still it has the scope to stay in the zone for a longer period of time in the case of a highly bullish scenario.

 

 

 

 

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Rekha has started as Forex market analyst. Analyzing fundamental news and its impact on the market movement. Later on, develop an interest in the fascinating world of cryptocurrency. Tracking the market using technical aspects.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.