In these last two weeks, Near Protocol showed a remarkable rally in breaking the previous All-Time High resistance of $13.2. The price shows sufficient sustainability from the new support level, as the coin shows a 10% gain on its first follow-up candle.
Key technical points
- The NEAR coin price breached the $14.5 resistance
- The intraday trading volume in the near protocol coin is $1 Billion, indicating an 8.02% loss.
In our previous coverage of the Near Protocol coin on December 11, the coin was recovering from November’s correction phase. The coin price showed an impressive rally till the $12 mark, but the harsh selling pressure in the market demanded another retracement.
This minor pullback found significant support from the $8.3 and started a new rally. From December 21 to 26, the chart showed consecutive green candles, indicating a total gain of 91.8%. The price has breached the previous All-Time High of $13.32, offering another long opportunity.
The NEAR price has reclaimed the bullish sequence of crucial EMAs(20, 50, 100, and 200), indicating buyers have the upper hand. The Relative Strength Index(62) follows his own rally approaching the overbought zone.
NEAR Coin Shows Good Sustainability Above The $13.2 Mark
The Near Protocol coin marked a new ATH of $1.65. The pair recently went through a retest phase, which plunged the price to $1.32 support. The coin formed a double bottom pattern in the hourly time frame chart and bounced from the bottom level.
Today, the price provided a sudden pump of 10% and has breached the minor resistance level of $14.5, providing an extra edge. The coin could soon challenge the New ATH with the hope of a bullish breakout.
The important resistance levels for the coin are $16.3, followed by the $19(traditional pivot level R1). And, on the Flipside, the support levels are at $14.4 and $13.2.
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