Key Levels for NEAR

NEAR is under selling pressure from the descending trend resistance. However, it may bounce back from the 2.30$ – 2.07$ support zone and attempt to retest the trend.

If NEAR breaks the descending trend resistance, the first target will be 3.10$. If this level is secured, the next target will be the downward FVG (Fair Value Gap) region.

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On the other hand, if the support zone is lost, the price may decline toward 1.85$.

Technical Indicators and Market Outlook

Support Levels

• 2.30$ – 2.07$: The primary support zone, where price reaction will determine the next movement.
• 1.85$: The next key level to watch in case of a breakdown.

Resistance Levels

• Descending Trend Resistance: The most crucial level NEAR needs to break for an upward move.
• 3.10$: The first target if the trend breaks.
• FVG Zone: The upper resistance area if the price continues rising.

NEAR’s price movement will largely depend on its reaction to the 2.07$ support level. If this zone holds and a breakout occurs, 3.10$ becomes the next key target. However, if support is lost, a decline to 1.85$ may follow.

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The post NEAR Price Analysis: Downtrend Continues! appeared first on Coin Engineer.

The price movement and volatility for NEAR Protocol over the previous 24 hours (left) are compared below with its price movement over the past week (right). Measurement of the volatility for daily and weekly price fluctuations: the gray bands are Bollinger bands. The volatility increases with wider bands or more gray areas at any one moment.

Moving in line, directionally, with the total circulating supply of the coin, which has dropped 0.87%, the trading volume for the coin has dropped 47.0% during the past week. This brings the 1.11 billion circulating supply.

The recent price swings of NEAR highlight the strength of the bearish trend, even in sporadic, brief recovery. The general direction stays down despite these little fluctuations, indicating continuous bearish momentum. It emphasizes the need for closely observing important resistance and support levels since these will give vital information about possible price reversals or more losses.

Given the bearish wedge pattern’s continuing impact on NEAR’s price behavior, traders should exercise caution. This trend implies ongoing downward pressure; hence, traders must be alert and base their judgments on market dynamics to ensure correct behavior. Monitoring these important levels helps traders better negotiate the price swings of NEAR and control their assets.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post NEAR Coin Analysis: Bearish Momentum Ahead? appeared first on Coin Engineer.