Near Technical Analysis | Checkout How Near is Performing

NEAR uses its Nightshade technology to improve transaction throughput massively. Nightshade is a variation of sharding, in which individual sets of validators process transactions in parallel across multiple sharded chains, improving the overall capacity of the blockchain. In contrast to “regular” sharding, shards in Nightshade produce a fraction of the next block, called “chunks.” 

The live NEAR token price today is $14.75 with an intraday trading volume of $1,387,275,280.40. It is up 14.57% in the last 24 hours. With a live market cap of $8.87 Billion, the coin ranks in the top 25 coins list by CoinMarketCap.

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. 

Let’s have a deepened insight into the technical analysis of NEAR Token and see what the indicators have to say about it.

The NEAR coin price rises higher and shows lower price rejection in the 4-hour chart. Therefore, the increasing trend momentum 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.

The RSI indicator at 54% shows a retracement to the central mark in the 4-hour chart. However, the slope can show reversal near the central line and the 14 days SMA in confluence.