As NEAR prices fall more than 10% last day, sellers break multiple EMAs and eye the $10 mark. Should you keep holding as sellers regain trend control?

Key technical points:
<ul>
 	<li style="font-weight: 400">The flag pattern breakout rally crosses under the $13.5 mark. </li>
 	<li style="font-weight: 400">The downfall cracks under the 100-day EMA.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Near Protocol is $1.28 Billion, marking a 3% fall. </li>
</ul>
<h2>Past Performance of NEAR</h2>
With the falling pattern breakout, the NEAR coin price cracked under multiple support levels, accounting for a downfall of 26% within the last week. The downfall breaks the 50 and 100-day EMAs and currently retests it with a bullish breather. 

<img src="https://s3.tradingview.com/snapshots/h/hqvb08Cy.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/hqvb08Cy/">Tradingview</a>
<h2>NEAR Technical Analysis </h2>
As the selling pressure grows, the NEAR coin price may continue the downfall to reach the 200-day EMA. Hence, traders can shortly find an entry opportunity at current prices with a target of $10.

As prices fall under the 50 and 100-day EMAs, bears ensure a downfall to the 200-day EMA. Moreover, the flattish trend of the EMAs may shortly experience a bearish influence and give a bearish crossover.

MACD Indicator: The MACD and signal lines reach the zero line while maintaining a bearish alignment. Moreover, the intensifying downtrend in the negative MACD histogram reflects a rise in the underlying bearishness.

RSI Indicator:  The sudden sharp fall in the RSI value crosses below the 14-day and approaches the oversold boundary. Hence, the indicator reflects a surge in selling pressure.

In a nutshell, the NEAR technical analysis displays a phenomenal rise in supply, driving the downtrend below the 100-day EMA. 
<h2>Upcoming Trend </h2>
If the sellers see a close below the $13 support, A bearish impact on the trend to come will push up NEAR values to the level of $10, resulting in 25% deflation. If, however, the bullish rebound is able to close higher than the 100-day EMA, this will weaken the bearish trend and re-establish an upward trend.

Resistance Levels: $13.5 and $15

Support Levels: $11.5 and $10

NEAR Technical Analysis: Will The Downfall Touch $10?

As NEAR prices fall more than 10% last day, sellers break multiple EMAs and eye the $10 mark. Should you keep holding as sellers regain trend control?

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: Will The Downfall Touch $10?

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