Key assistance levels: $ 13
Key resistance levels: $ 18
After a significant breakout of the ascending wedge (marked in blue on the following chart), NEAR is just below $ 18, which is currently acting as resistance. This is the next key resistance to consider. The cryptocurrency hit a new all-time high a few hours ago, and going above the level is essential to continue its rally.
Trade volume: Large volume from the break above the wedge. The longer this lasts, the better the chance that NEAR will break the key resistance. However, at the moment the volume is showing some weakness after the breakout. It is important that the buyers maintain the momentum, otherwise the price may fall back to support.
RSI: Daily RSI needs to hit a higher high soon, otherwise the current price action will form a bearish divergence (higher price, lower RSI). This would be another indicator that the momentum is waning.
MACD: The daily MACD is bullish and looks poised for another rally. However, the resistance of $ 18 must be broken to allow the price to rise.
The bias for NEAR is b. However, the indicators give mixed messages that the momentum may fade. If the cryptocurrency fails to break through the resistance of $ 18, a pullback becomes likely.
Short-term price prediction for NEAR
NEAR has had a great rally over the past few weeks, fueled by the growing ecosystem and decentralized applications that run on the protocol. These fundamentals should continue to make NEAR perform well in the current market.
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