Near Protocol (NEAR/USD) Market Resumes Its Bearish Trend
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Near Protocol Price Forecast – June 28
The NEAR/USD market resumes its bearish trend. The bearish resumption began after a successful pullback from the discount zone.
The technical indicators on the NEARUSD chart reveal a bearish trend. The Moving Average Convergence Divergence (MACD) shows a negative value, with the MACD line (blue) crossing below the signal line (orange), which is typically a bearish signal. Additionally, the Moving Averages (MA) with short-term (9-day) and medium-term (21-day) periods are showing a downward slope, suggesting that the recent price action is pushing the trend lower. The 9-day MA has crossed below the 21-day MA, further confirming the bearish momentum.
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 indicates that the market has resumed its bearish trend after a successful pullback from the discount zone.
NEARUSD has been making lower highs and lower lows, indicative of a downtrend. The break of structure (BOS) and the subsequent change of character (CHoCH) indicate a shift in market sentiment from bullish to bearish.
The buy-side liquidity grab (BSL) at the recent high adds to the evidence that the bears are in control. The presence of multiple long wicks on the candles near resistance levels also suggests that selling pressure is dominant.
Where is the NEARUSD price likely to head in the longer term?
Looking ahead, the projection for NEARUSD remains bearish. Given the current trend and momentum indicators, the price is likely to continue its downward movement. The next significant support level is around $4.300, and if the price breaks below this, it could head towards the next support at $3.450.
NEAR/BTC Price Analysis
The NEAR/BTC pair shows a bearish trend with the MACD indicating downward momentum as the MACD line is below the signal line. The price action has recently broken below the support level at 0.000096730, turning it into resistance.
The 9-day moving average has crossed below the 21-day moving average, confirming the bearish sentiment. The next significant support level is around 0.000069210, with further potential decline towards 0.000058680 if the bearish trend continues.
Near Protocol (NEAR) Current Statistics
Current price: $4.970
Market Capitalization: $5,430,000,000
Trading Volume: $214,700,000
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