- NEAR coin price obtained strong support from the 50-day EMA
- The NEAR/BTC pair was trading at 0.00001459 BTC with a LOSS of 1.05 %
- The 24hr trading volume in the NEAR coin is $357.5Million
On October 8th, the NEAR coin price made a new ATH of $11.8, after which the coin entered into a moderate retracement phase and plunged to the crucial support of the $6.35 mark. While trying to obtain proper support from this level, the chart displayed a symmetrical triangle pattern in the daily time frame chart. The pattern offered a bullish breakout, suggesting the continuation of the bull rally.
The NEAR Coin’s EMA shows a solid bullish trend with the price moving above the 20, 50,100, and 200 EMA moreover, the 50 EMA acts as dynamic support for the coin.
The RSI (BULLISH) value is at 63, indicating a strong bullish momentum in the coin.
NEAR Coin Crypto Chart In The 4hr Time Frame
The NEAR coin displayed the formation of a rounding bottom pattern in the daily timeframe. The pattern has its critical resistance (neckline) at $10.5, and crypto traders should wait for a proper breakout from this level, providing an excellent opportunity for a long trade. The NEAR Coin’s current price is $8.95, with an intraday gain of 5.52%.
The moving average convergence/divergence indicator (BULLISH) shows that both the MACD line and signal lines are moving higher to the neutral zone (0.00), indicating bullish momentum in the NEAR coin.
Conclusion: From the technical perspective, the NEAR coin displays an overall uptrend, which is just going through a moderate retracement phase. However, crypto traders can expect a strong direction in this coin once the price provides a deceive breakout from the bullish Pattern.
Support– $8.4
Resistance– $10.4