Near Protocol (NEAR/USD) Market Sets for Upward Surge

Near Protocol Price Forecast – June 7

The NEAR/USD market sets for an upward surge as the price finally bounced out of the bullish order block in the discount zone. A massive surge is highly probable from here.
 
According to the indication of the SMA (Simple Moving Average), NEARUSD began its bearish trend after the rebound from the $8.100 supply zone. However, the Stochastic Oscillator currently indicates that the market is recuperating from the oversold region. Considering the overall market trend on the daily chart, the impending bullish trend has a chance of lasting long term.

NEAR/USD Market Key Levels

Resistance levels: $7.250, $8.100, $9.000
Support levels: $5.720, $5.000, $4.300

NEAR/USD – Daily Chart

The daily chart for NEAR/USD indicates the market is set for an upward surge as the price bounced out of the bullish order block in the discount zone.
 
The market’s current trading range lies between the $8.500 swing high and the $4.300 support level. The price had retraced into the discount zone from the premium zone as a sell-side liquidity grab occurred at a $6.550 swing low.

How long is the impending rally for NEAR/USD likely to last?

Owing to the buying pressure from the bullish order block in the discount zone, NEARUSD rebounded immediately, clearing a significant loss in a short time. 
 
A massive surge is still highly probable as the bulls keep storming the market in a bid to resume the market’s overall trend. The impending rally is likely to last till the price reaches the $9.000 resistance.

NEAR/BTC Price Analysis

The NEARBTC pair has also bounced out of an FVG (Fair Value Gap) in the discount zone. A massive surge is also impending for NEARBTC as the Stochastic Oscillator indicates that the market needs to leave the current oversold region.
 
Near Protocol (NEAR) Current Statistics
Current price: $6.650
Market Capitalization: $7,190,000,000
Trading Volume: $457,620,000

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