NEAR coin price action forms a bullish flag pattern after surviving the bearish attack all over the market. Will buyers bring an upside breakout?

Key technical points:
<ul>
 	<li style="font-weight: 400">The RSI indicator shows a bearish divergence. </li>
 	<li style="font-weight: 400">The 50 and 100-day SMA give a bullish crossover. </li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Near Protocol is $1.40 Billion, marking a 2.35% fall.</li>
</ul>
<h2>Past Performance of NEAR</h2>
NEAR coin price shows a consolidation range forming between the $15 and $18 after a remarkable rise of 75% from the $10 mark. The accumulation range brings a bullish flag pattern into existence with long-tail formations near the $15 support level. Hence, the bullish momentum trapped within the pattern might shortly outgrow the pattern. 

<img src="https://s3.tradingview.com/snapshots/x/XgKK1CIE.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/XgKK1CIE/">Tradingview</a>
<h2>NEAR Technical Analysis </h2>
NEAR coin price shows a double bottom pattern forming within the range, indicating a potential breakout. However, the daily candle turning red, reflecting a 3% fall, reduces the chances for bullish players. 

The crucial daily SMAs (50, 100, and 200) regain the bullish formation with the positive crossover of the 50 and 100-day EMA. Therefore, the SMAs are ready to provide support at multiple levels. 

RSI Indicator: The RSI slope underperforms the 14-day average and shows a bearish divergence within the range formation. Hence, the possibility of a reversal to the ultimate support level at $15 increases.

MACD Indicator: The reducing spread between the MACD and signal lines might shortly undermine the bearish crossover and regain the bullish alignment. However, the crossover remains a possibility as the sequences are bearishly aligned for now.

In a nutshell, the NEAR technical analysis highlights the possibility of a bullish reversal to the $100 mark.
<h2>Upcoming Trend </h2>
The NEAR coin price shows a bullish pattern in the daily chart, but the limiting bullish momentum increases the chances of further sideways continuation. Nonetheless, closing above the $18 mark will drive the prices above the $20 mark to create a new all-time high close to $22.

Support Levels: $15 and $13

Resistance Levels: $18 and $20

NEAR Technical Analysis: Bullish Flag Ready To Furl Above $20

NEAR coin price action forms a bullish flag pattern after surviving the bearish attack all over the market. Will buyers bring an upside breakout?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

NEAR Technical Analysis: Bullish Flag Ready To Furl Above $20

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