Near Protocol Price Analysis: Near Coin’s Price Respects Resistance Level Amid Bullish Rally

• The Near Protocol faces a retracement phase despite a higher-higher pattern.
• NEAR crypto price is trading above the 20 and 50 day moving averages on the daily price chart.
• The price of the NEAR coin pairing with Bitcoin is down 3% at 0.0001924 Satoshis.

The Near Protocol coin shows the formation of a round bottom in the fall of 2022. NEAR crypto has reclaimed its 60-day low several times before bouncing back. Now the bulls are looking aggressively to push the altcoin price higher in the context of the daily price scale.

After seeing a Bullish Hammer candle on June 13th, the buyers were well managed to push the altcoin’s price upwards. Meanwhile, the price of the NEAR coin rallied almost 55% over the past few days from a 20-day low to the recent weekly high of $4.75 mark.

Source: NEAR/USDT by Tradingview 

Despite the retracement phase on the 4-hour price scale, the NEAR coin is still speculating above the bullish trend line. Also, the altcoin price is trading above important moving averages like 20,50, 100, and 200 DMA. Furthermore, the price of the NEAR coin pairing with Bitcoin is down 3% at 0.0001924 Satoshis.

At the time of writing, the NEAR protocol is struggling with the dump attempt from sellers, while the NEAR coin against the USDT pair is trading at the $4.36 mark at the time of publication. NEAR crypto price is trading above the 20 and 50 day moving averages on the daily price chart.

Near Coin May See a Drop near $5.0 Mark 

Source: NEAR/USDT by Tradingview 

The Money Flow Index (MFI) is going down after reaching the top of the indicator. Similarly, the Stoch RSI is also trending down from the overbought zone on the daily price scale.

Conclusion

Near Protocol is trading inside a bullish candle of July 19. Buyers barely manage to hold the price above the 45-day high. But still the price action is attracting an uptrend, so buyers may see a move above the $4.7 mark.

Support  level- $3.0 and $2.8

Resistance level- 5.0 and $7.3

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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