The NEAR cryptocurrency has been moving steadily in a flat-topped consolidation triangle since November 2021. With this formation, buyers are trying to buy all sellers at historic highs to continue their growth trend. Given the weakness of Bitcoin in recent times, the NEAR cryptocurrency is quite skillful. But what happens if the BTC price crosses the $38,000 mark? The risk of the BTC price fall will catch altcoin investors by surprise. And such events lead to panic and mass-market sales of cryptocurrencies.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/g/g8GPgkRJ.png" alt="NEAR" width="1386" height="791" />

<a href="https://www.tradingview.com/x/g8GPgkRJ/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/g8GPgkRJ/</a>

It is for this scenario that you should be prepared to buy NEAR in the range of $8.5. This liquidity zone confidently withstands all the blows of buyers since September 2021. Therefore, even with the total interception of the initiative by sellers breakout of $8.5 for the first time without a fight is unlikely. This fact will allow investors to assess the market situation and in case of weakness of buyers to get rid of their NEAR and expect a continued fall. However, the NEAR price fall below $8.5 is our alternative scenario.
<h2>Technical Analysis Of NEAR On The Daily Timeframe</h2>
<img src="https://s3.tradingview.com/snapshots/w/w1IlmHWW.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/w1IlmHWW/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/w1IlmHWW/</a>

Analyzing the movement of the <a href="https://www.cryptoknowmics.com/news/near-prices-firm-may-break-above-17-1-to-q1-2022-highs/">NEAR</a> price on the daily timeframe, we can see the classic reversal of the short-term trend. The $18 mark was a turning point for buyers. After trying to break and take control of this mark, sellers became more active. This is clearly seen on the candle of 8 April. Great efforts of buyers in the form of trading volumes did not yield results and formed a large pin on the daily candle. Then the consolidation is under the mark of $18.

At the time of writing, the NEAR price is as close as possible to the local trend line. Breaking it will begin to prepare sellers for a new fall wave. In this case, from the $18 mark with low risk, you can open a short position with a global target of $8.5.
<h2>The NEARBTC Price Does Not Encourage Growth Prospects</h2>
<img src="https://s3.tradingview.com/snapshots/y/YE3WHOrP.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/YE3WHOrP/" target="_blank" rel="nofollow noopener">https://www.tradingview.com/x/YE3WHOrP/</a>

Unfortunately, looking at NEARBTC weekly chart is a good bit. The price is near historical highs. In the last trading weeks, sellers have stopped the growth trend with limit orders. The minimum prospect of cryptocurrency fall is 25-30%. In the range of 0.00027 buyers will have a chance to change the situation. Before the mark of 0.00027 to buy NEARBTC is quite risky. In order to decide whether or not to buy NEARBTC in the range of 0.00027, it is necessary to look at the trading volumes in this range and the nature of the price fall from the current range. If sellers manage to lower prices to 0.00027 with one weekly candle, we would not invest.

NEAR Technical Analysis: We Should Be Prepared To Fall

At the time of writing, the NEAR price is as close as possible to the local trend line. Breaking it will begin to prepare sellers for a new fall wave.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

NEAR Technical Analysis: We Should Be Prepared To Fall

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