Near Protocol (NEAR/USD) Market Resumes Its Bullish Trend

Near Protocol Price Prediction – May 24

The NEAR/USD market resumes its bullish trend from the bullish order block in the discount zone. The price is likely to continue the uptrend until the (EQH) Equal Highs at $8.520 are invalidated.

From the formation of the equal highs at $8.520, the price made a short-term retracement into the bullish order block. This caused a change in the signal of the SMA (Simple Moving Average). However, the buy signal on the MACD (Moving Average Convergence Divergence) remains valid as the MACD is above the zero line.

NEAR/USD Market Key Levels:

Resistance levels: $7.920, $9.000, $9.510
Support levels: $4.300, $3.450, $2.450

NEAR/USD – Daily Chart

The daily chart for NEAR/USD shows an upward movement as the market resumes its bullish trend from the bullish order block.

The market’s overall trend has resumed since the major retracement ended in mid-April. The overall bullish trend resumed as the price bounced off a bullish order block at $4.300 in the demand zone.

How is NEARUSD likely to react as it heads upward?

After the invalidation of the equal highs at $7.640 on May 7, 2024, the price experienced a short-term retracement. Following the retracement, which ended with a sell-side liquidity grab, NEARUSD continued upward.

Another equal high has been formed at $8.520. As the price heads upward, an invalidation of the high is imminent. More fractal moves are likely as the price heads into the $9.510 supply zone.

NEAR/BTC Price Analysis

Similar to NEAR/USD, NEAR/BTC keeps forming higher highs and higher lows. A short-term retracement just ended as the market entered the discount zone. Following the formation of the higher low, the market’s uptrend is expected to continue.

Near Protocol (NEAR) Current Statistics
Current price: $7.810
Market Capitalization: $8,420,000,000
Trading Volume: $738,450,000

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