The NEAR coin price grew stronger with a bullish reversal from the horizontal level at $13 and aims to break above the high of $16.

NEAR utilizes its Nightshade technology to increase the speed of transactions. Nightshade is a variation on sharding in which sets of validators handle transactions in parallel across multiple chains with shards, which increases the capacity for the blockchain. Contrary to the "regular" sharding, shards in Nightshade create a small part of the block that follows called "chunks."

Let us move ahead to read more about the Near Protocol technical analysis.
<h2>Past Performance of NEAR</h2>
In the past 24 hours, the NEAR coin price grew almost 15% with the breakout of a double bottom pattern in the 1-hour chart. Despite the lack of credibility of the 1-hour chart, the pattern breakout brings bullish attention and increases the trend momentum. 

<img src="https://s3.tradingview.com/snapshots/f/Fg0dxaVf.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/Fg0dxaVf/">NEAR/USD Daily Chart</a>
<h2>NEAR Technical Analysis</h2>
The NEAR coin price rises higher and shows lower price rejection in the 4-hour chart. Therefore, the <a href="https://www.cryptoknowmics.com/news/near-technical-analysis-gloomy-days-end-with-hopes-of-new-high-for-new-year/">increasing trend momentum</a> teases a bull run above the $16 mark, the highest horizontal level in the daily chart. The breakout can result in a new all-time high formation above $16.

Traders can find the influential horizontal levels of $16 and $18 playing a key role in the future trend. On the other hand, the $13.75 and $12 horizontal levels take the opposite role.

The RSI indicator at 54% shows a retracement to the center mark in the 4-hour chart. However, the slope can show reversal near the central line and the 14 days SMA in confluence. 

The MACD indicator shows a bullish crossover of the MACD and signal lines in the 4-hour chart. Therefore, the growth of bullish histograms will indicate a rise in buying pressure.
<h2>Upcoming Trend</h2>
The bull run in the NEAR coin with the double bottom breakout shows an increase in the buying pressure evident by the bullish candles. That is why traders can expect a bull run to the $16 mark. However, the breakout is imminent, but a reversal is possible. Therefore, risk mitigation close to $16 is required.

NEAR Technical Analysis: Bulls Gain Momentum, Soon To Break Above $16

The NEAR coin price grew stronger with a bullish reversal from the horizontal level at $13 and aims to break above the high of $16.

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: Bulls Gain Momentum, Soon To Break Above $16

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