The NEAR coin price rests at the 200-day EMA within the symmetrical triangle following the 15% fall last week. Will the downfall break the EMA support?

Key technical points:
<ul>
 	<li style="font-weight: 400">NEAR price approaches the $10 mark.</li>
 	<li style="font-weight: 400">The MACD indicator warns of a bearish crossover. </li>
 	<li style="font-weight: 400">The 24-hour trading volume of Near Protocol is $496 Million, marking a 25% rise. </li>
</ul>
<h2>Past Performance of NEAR</h2>
NEAR coin price forms a symmetrical triangle pattern after the downfall observed in the early days of 2022. The recent rejection from the resistance trendline due to the double top formation knocks down the price at the 200-day EMA. The altcoin trades below the 50% Fibonacci Retracement Level, but the retracement to 61.80% depends upon the breakout direction.

<img src="https://s3.tradingview.com/snapshots/8/8kvTouwX.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/8kvTouwX/">Tradingview</a>
<h2>NEAR Technical Analysis </h2>
NEAR coin price action shows a relatively more potent resistance trendline than the newer support trendline in terms of the number of reversal hits. Hence, the fallout possibility seems more prominent. 

The downsloping EMAs (50, 100, and 200) indicate a bearish bias in the price trend and the trading activities due to the 50 and 100-day EMA bearish crossover. Moreover, the integrity of the 200-day EMA is on the verge of being compromised.

RSI Indicator: Despite the bearish tinge in the sideways price trend, the RSI slope retains the 50% mark, with the 14-day SMA upholding the uptrend.

MACD Indicator: The bullish histograms project an upcoming end as the MACD and signal lines are on the cusp of giving a bearish crossover below the zero line.  

In short, NEAR technical analysis shows a rise in bearish powers within the symmetrical triangle pattern.

Upcoming Trend 

The upcoming trend in the NEAR coin price depends upon the pattern breakout. However, the increasing selling activity teases a bearish breakout rally which might hit the 61.80% Fibonacci Level at $8.70.

On the opposite end, the bullish breakout seems unlikely but might result in an uptrend to the 38.20% Fib level at $13.

Resistance Levels: $13 and $15

Support Levels: $8.70 and $7.15
<h3>DID YOU KNOW?</h3>
Near Protocol, the third <a href="https://twitter.com/NEARWEEK/status/1501931837970477058/">fastest-growing Blockchain</a> ecosystem with a growth of 291% in full-time developers, hits the <a href="https://twitter.com/NEARWEEK/status/1503318360322461704">100 Million transaction</a> milestone on March 14th. Also, the developers get 30% of the transaction fees spent on the platforms.

NEAR Technical Analysis: Triangle Turning Bearish Teases 10% Fall

The NEAR coin price rests at the 200-day EMA within the symmetrical triangle following the 15% fall last week. Will the downfall break the EMA support?

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: Triangle Turning Bearish Teases 10% Fall

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