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.
Technical Indicators
Trading Volume: Significant volume since the breakout above the wedge. The longer this is sustained, the better chances NEAR has to break the key resistance. However, right now, the volume does show some weakness after the breakout. It is important for buyers to maintain the momentum, otherwise, the price can fall back on 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 ready for a new rally. However, the $18 resistance needs to be broken to allow the price to go higher.
Bias
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 an excellent rally in the past few weeks, fueled by the growing ecosystem and decentralized applications that are running on the protocol. These fundamentals are likely to continue to make NEAR a good performer in the current market.
