Near Protocol (NEAR/USD) Market Makes a Bullish Pullback to the Premium Zone
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Near Protocol Price Forecast – July 12
The NEARUSD (NEAR/USD) market makes a bullish pullback to the premium zone. The price currently appears to be heading into the bearish order block around the $5.500 price level.
The RSI is at 46.62, indicating a neutral stance but showing signs of a potential downturn. The SMA for the past nine days is at $4.650, and the price is currently above this level, highlighting a bullish sentiment. The recent bullish divergence on the RSI also indicated that a pullback to the upside was impending.
NEAR/USD Market Key Levels:
Resistance levels: $7.660, $8.100, $9.000
Support levels: $4.300, $3.450, $2.450
NEAR/USD – Daily Chart
The daily chart for NEAR/USD shows that the market is making a bullish pullback to the premium zone.
The CHoCH at $6.550 and the recent BOS (Break of Structure) at 4.450 indicate that the bears are firmly still in control. The price has formed lower highs and lower lows, confirming the bearish trend.
Where is the NEARUSD price likely to head in the longer term?
As the market continues its bearish trend in fractals, a pullback is needed, according to the RSI’s indication. Projection-wise, if NEARUSD fails to break above the order block around $5.500, it is likely to continue its downward movement.
The next support levels to watch are $4.300 and $4.000. If these levels are breached, the price could potentially fall to $3.450. Overall, the bearish outlook remains strong.
NEAR/BTC Price Analysis
The NEAR/BTC chart indicates a bullish trend, as the price recently created a bullish order block around 0.00008000. The RSI is at 52.27, showing positive momentum and potential for further upward movement. The recent price action shows a failed swing low, which suggests strong buying pressure and the formation of higher lows.
Near Protocol (NEAR) Current Statistics
Current price: $4.980
Market Capitalization: $5,280,000,000
Trading Volume: $352,340,000
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