Near Protocol (NEAR/USD) Sustains Bullish Momentum Supported by Technical Confirmations
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Near Protocol Price Forecast – August 15
NEARUSD sustains bullish momentum supported by technical confirmations. The overall market structure for NEARUSD is currently favoring the bulls, as price action is consistently aligning with positive signals from the indicators. The 9-day SMA (Simple Moving Average) at $2.770 is holding as a dynamic support zone, reflecting upward momentum in the short term.
Additionally, the MACD histogram shows increasing bullish momentum, with the MACD (Moving Average Convergence Divergence) line above the signal line, underscoring a constructive market sentiment. This alignment suggests that investors are gradually regaining confidence, with upward pressure outweighing corrective moves.
NEAR/USD Market Key Levels:
Resistance levels: $3.380, $4.410, $5.290
Support levels: $2.570, $2.220, $1.500
NEAR/USD – Daily Chart
The daily chart for NEAR/USD shows that the market is bullish as it rallies in fractals.
The pair has rebounded from the $2.220 support base and maintained strength above the price level. Price action has successfully navigated through the fair value gap (FVG) and is now consolidating near the $2.720–$2.760 range, setting up a higher-low structure. The presence of sustained demand around $2.560 validates the bullish narrative, while repeated testing of higher resistance bands indicates continued market interest in extending upward gains.
What is the next move for NEARUSD?
Looking ahead, the next upside target is projected at $3.380, which represents a significant resistance level that could attract profit-taking. A successful breakout beyond $3.380 would pave the way for extended gains towards $4.410 and eventually $4.700, provided momentum persists. However, should bearish forces attempt a pullback, the $2.560 and $2.220 levels remain key supports to safeguard the bullish outlook. Overall, NEARUSD is technically positioned for appreciation, with buyers retaining a firm advantage in the near term.
The video provides a detailed technical analysis of Near Protocol’s recent price movements and future outlook using Elliott Wave Theory. Despite a recent downward correction, the presenter identifies strong bullish signs suggesting that the uptrend, which started from a low around $1.8, is likely to continue. The analysis focuses on the presence of a clear five-wave impulsive structure, which is a key bullish indicator signaling the probable end of the current correction phase and the start of a significant upward move.
The presenter carefully examines the wave counts on multiple timeframes, explaining how the current price action fits into an Elliott Wave impulse followed by corrective patterns such as ABC zigzags and running flats. Traders are to remain optimistic and patient, expecting a corrective phase to complete before a potentially strong upward trend resumes.
Near Protocol (NEAR) Current Statistics
Current price: $2.730
Market Capitalization: $3,430,000,000
Trading Volume: $161,650,000
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