In new technical analysis, Near is an open-source protocol that supports the development of decentralized applications. It operates at high speed and facilitates high scalability at lower costs. It leverages existing financial components to build new and innovative apps. NEAR is the prime governance token of this network.
On April 5, 2021, NEAR started trading at $6.11. As of April 11, 2021, the closing price of NEAR was $6.76. Thus, in the past week, the price has surged by approximately 11%. In the last 24 hours, NEAR has traded between $6.76-$7.29
Day-Ahead and Tomorrow
Currently, NEAR is trading at $7.21. The price has risen from the opening price of $6.76. Thus, the market looks bullish.
The MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to go up further.
The OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. High buying activity will exert upward pressure on the NEAR price. Thus, the price is likely to rise further.
The RSI indicator is currently at 62%. It faced rejection at 65% and fell to the current level. Thus, selling pressures are slowly mounting. Hence, we can expect a price pullback.
NEAR Technical Analysis
As per technical analysis, the price has surpassed the second Fibonacci pivot resistance level of $7.23. It will soon break out of the third Fibonacci pivot resistance level of $7.42, as the bullish forces are strong.
The price has tested and broken out of a 23.6% FIB retracement level of $7.15. Thus, the price uptrend is strong, and we can expect the bull-run to continue tomorrow as well.