Near Protocol (NEAR/USD) Market Shows Bearish Momentum Below Key Resistance Levels
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Near Protocol Price Forecast – April 11
NEAR/USD market shows bearish momentum below key resistance levels. The consistent invalidation of the support levels indicate the dominance of the bears in the market.
The MACD (Moving Average Convergence Divergence) indicator remains in bearish territory, with the MACD line below the signal line and both lines situated under the zero mark. Although there is a slight uptick in the histogram, signaling short-term bullish momentum, the overall trend favors the bears. The 9-day SMA, currently around $2.200, acts as a dynamic resistance, further reinforcing the downward bias as price struggles to close above it.
NEAR/USD Market Key Levels:
Resistance levels: $3.070, $4.530, $6.490
Support levels: $2.140, $1.500, $1.000
NEAR/USD – Daily Chart
The daily chart for NEAR/USD shows that the market’s overall trend still remains bearish.
NEARUSD recently made a break of structure (BOS) below the $2.140 level, indicating further weakness. The market has been forming lower highs and lower lows, characteristic of a bearish trend.
Current price at $2.060 is approaching a minor resistance zone near the $2.20 mark, which also aligns with a bearish order block (marked MB). This confluence makes the $2.20–$2.70 range a strong supply zone where sellers are likely to return.
What is the next move for NEARUSD?
The projected outlook remains bearish. If the price faces rejection at the $2.20–$2.70 resistance zone, it could initiate another leg down toward the $1.50 support level. A successful breach of this support could open the path for NEARUSD to test the psychological level at $1.00. Unless the bulls reclaim and hold above $2.70, the market structure will likely continue to favor the downside.
NEAR/BTC Price Analysis
NEARBTC is in a clear downtrend, marked by consecutive breaks of structure (BOS) and lower highs. The price is trading below the 9-day SMA, which continues to act as dynamic resistance.
Recent rejection from the 0.00002970–0.00003510 supply zone confirms strong bearish pressure. MACD remains negative, supporting further downside potential toward the 0.00001700 support level.
Near Protocol (NEAR) Current Statistics
Current price: $2.060
Market Capitalization: $2,540,000,000
Trading Volume: $153,830,000
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