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The Near Protocol is at a fundamental point in time that could change its price significantly. A close look at NEAR's price chart shows it is ready for a big test. Right now, NEAR is trading at about $6.87.
The chart points out that there is a line that NEAR's price has been following downward. This line is called a
"trendline." If NEAR's price can go above this line, it could mean the price will start to go up much faster.
On the chart, there are two main prices we should look at: the "support" level at around $5.64 and the "resistance" level near $7.00. The support level is reflected in the 50 EMA; if NEAR's price drops to this point, it might bounce back up and slide upwards again. If NEAR's price can break through this, there is a chance it will continue to climb higher.
For NEAR to show it can really grow, it needs to break through that trendline and pass the resistance level of $7.00. If it does this successfully, it could signal that NEAR is starting to rally; that means its price could begin to rise quickly and keep going for a while. However, if NEAR cannot pass this level, it might stay below the trendline, which could mean its price will not grow as fast.
The future of NEAR's price depends on whether it can pass these tests. If it does break the trendline and pass the resistance, the next big price to watch would be around $8.07, which is the next level of resistance. On the other hand, if NEAR's price goes down, it could find support at $5.64, where it may stop falling and stabilize.
U.Today Editorial Team
Dan Burgin
