NEAR Price on Steady Bullish Waves – Price Analysis

The technical chart shows Near Protocol (NEAR) exhibits massive bullishness. The alternative token surged past the previous ATH resistance around the $17 level. Moreover, the asset showed stability beyond the $17 new support.

Vital Technical Levels

  • NEAR price secures reliable support at 20-EMA.
  • Trend-based FIB extension zone indicates vital resistances at $22, then $24.5.
  • The altcoins saw their intraday trading volume surging by 20% to $1.71.

Near Protocol’s token has retested the support at $13. As the coin launched upside movement, the massive supply pressure near $17 required another slight drop. Meanwhile, the technical chart formed a double bottom setup after the alt’s second bounce from $13. On 11 January, NEAR experienced a significant breakout from the neckline at $17, the asset’s previous ATH resistance.

For now, NEAR token trades beyond the critical Moving Averages (20-, 50-, 100-, and 200), authorizing a massive bullish alignment. The Moving Average might offer dependable support amid occasional pullbacks. Furthermore, the daily Relative Strength approaches the 100 level, supporting the stable growth in NEAR price action.

FIB Extensions Hints at Potential Resistance

The four-hour chart indicates new higher low and higher high rally beyond the $17 level. Though the token is somewhat new to the value zones, they match the trend-based FIB extension level. According to these levels, NEAR coin’s next supply region is $20, $22, then $24.5. The climbing slope in average DMI shows the increasing bullish strength in the crypto.

About NEAR Protocol

Near Protocol (NEAR) is a public PoS blockchain designed to house dApps and compete with leading smart contract blockchains, such as Ethereum, Polkadot, and EOS. The platform uses NEAR as its native coin. The token holders can use NEAR for storage and paying transaction fees. Also, validators can use the token for staking purposes.

For now, the NEAR token is on a steady bullish move. The alternative coin seems to take advantage of the ongoing bull run in the crypto spectrum. Moreover, the asset secured reliable support, backing more upswings. Nevertheless, the upcoming price trends in the overall market will detect NEAR’s directional bias.

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