Near Protocol Price Prediction: NEAR/USD Reaches $8.0 Level
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Near Protocol Price Prediction – May 23
The Near Protocol price prediction indicates a slight rise above $7.80, with the coin needing to surpass $8.0 to maintain its bullish momentum.
NEAR/USD Long-term Trend: Bullish (Daily Chart)
Key Levels:
Resistance Levels: $11.0, $12.0, $13.0
Support Levels: $5.0, $4.0, $3.0
NEAR/USD is likely to cross and stay above $8.0 as the bulls strive to push the coin to higher levels beyond the 9-day and 21-day moving averages. For Near Protocol to remain above this level, the bulls must strengthen the $46,000 support level.
Near Protocol Price Prediction: NEAR/USD Poised for an Upside Move
Near Protocol is currently trading within a tight range between $7.90 and $8.0, situated between the 9-day and 21-day moving averages. This session shows Near Protocol and other major cryptocurrencies trading positively. Presently, Near Protocol is trading at $7.97 above the moving averages. The next resistance levels are expected at $11.0, $12.0, and $13.0.
However, if Near Protocol fails to stay above the 9-day and 21-day MAs, traders might witness a price decline toward the $6.5 support level. A further drop could push the price to $5.0, $4.0, and $3.0 supports. For now, the 9-day MA is above the 21-day MA, suggesting a bullish signal in the market.
NEAR/USD Medium-term Trend: Ranging (4H Chart)
On the 4-hour chart, NEAR/USD is fluctuating between the 9-day and 21-day moving averages. A decisive close above this barrier is essential for bullish momentum. Failing to do so may result in a downside move below the $7.5 support level. Should a downward move occur, initial support is near $7.5, with the main support at $7.0 and below, increasing the risk of a decline toward the lower boundary of the channel.
If the bulls manage to push the coin upward within the channel, the $8.5 level is likely to serve as a significant short-term hurdle for Near Protocol. An upside break above the upper boundary of the channel could lead the bulls towards $9.0 and higher. Conversely, the 9-day MA crossing below the 21-day MA could signal a bearish trend.
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