Is A Rally To $10 Imminent For Near Protocol (NEAR)?
The post Is A Rally To $10 Imminent For Near Protocol (NEAR)? appeared on BitcoinEthereumNews.com.
The Near Protocol price action chart saw significant movements as the NEAR/USDT pair broke through and retested a major trendline. It reinforced bullish sentiments among traders. On the daily chart, NEAR saw a notable support-turned-resistance flip at the $5.10 mark, solidifying it as new support after its upward trajectory. This level served as a critical juncture for future price movements. Adding to the optimism, a golden crossover occurred yesterday. It is a bullish signal where the short-term moving average crosses above a longer-term moving average, in this case, the 13-day EMA. – Advertisement – NEAR/USDT daily chart | Source: Trading View This event typically indicated the potential for substantial price increases and captured traders’ attention. It suggested a growing confidence in the asset’s performance. The retest of this trendline, coupled with the golden cross, painted a promising picture for NEAR. The volume and price action suggested that the asset was gaining momentum, potentially targeting the $10 mark. As NEAR garners more interest, the market closely watches for its next moves. The technical setup at press time indicated a strong uptrend could be in store. – Advertisement – NEAR Protocol’s Strong Uptrend Seth, a reputed analyst, noted that NEAR Protocol could continue its impressive performance in the crypto market, as indicated by recent technical analysis on the daily chart. The analyst noted NEAR consistently maintained its upward trajectory within a well-defined rising channel, which has been intact since early 2023. The Relative Strength Index (RSI), a key indicator of momentum, bottomed out and was trending upwards. That suggested increasing buyer interest and potential for continued price gains. The moving averages have provided solid support, reinforcing bullish signals. The NEAR price recently rebounded off those averages, indicating a healthy uptrend. Source: X Additionally, weekly buy signals have held firm, underscoring sustained investor…
Filed under: News - @ November 23, 2024 9:12 pm