Near Protocol (NEAR/USD) Market Signals Strong Bullish Momentum on Technical Indicators
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Near Protocol Price Forecast – January 3
Near Protocol (NEARUSD) market signals strong bullish momentum on technical indicators. The recent formation of the bullish marubozu candlesticks also signals bullish momentum.
The NEARUSD chart reveals bullish momentum supported by several indicators. The price is trading above the 9-day Simple Moving Average (SMA) at $5.210, confirming an upward trend. Additionally, the Stochastic oscillator is overbought, with the %K line at 91.18, indicating strong buying pressure. This suggests that bulls are dominating the market.
NEAR/USD Market Key Levels:
Resistance levels: $6.490, $8.520, $10.000
Support levels: $4.300, $3.070, $2.450
NEAR/USD – Daily Chart
The daily chart for NEARUSD shows an increase in the market’s buying pressure.
Price action highlights a series of higher lows and higher highs, confirming the bullish trend. The recent bounce from the $4.300 support level indicates strong buyer interest, propelling the price above the key Fibonacci retracement levels of 0.618 at $5.310 and 0.5 at $5.830.
The breakout above $5.500 signals further strength, with the resistance level at $6.490 as the next target. Notably, the candlesticks show bullish dominance, with no significant signs of reversal.
What is the outlook of NEARUSD?
Looking forward, NEARUSD is likely to continue its upward trajectory. If the price surpasses the $6.490 resistance, it could aim for the $7.330 and $8.520 levels in the near term, with a long-term target of $10.000.
However, if bearish pressure emerges, the $4.300 level could serve as a strong support zone. The overall market sentiment remains bullish, favoring continued gains for NEARUSD.
NEAR/BTC Price Analysis
NEARBTC is showing bullish momentum as the price continues to rise above the ascending trendline, with the current value at 0.00005830 BTC. The price is trading above the 9-day SMA at 0.00005610 BTC, indicating sustained upward movement.
The Stochastic oscillator is trending upward, with the %K line at 77.66, reflecting increasing buying pressure. A breakout above the resistance zone at 0.00006170 BTC could lead to further gains toward the 0.00007000 BTC and 0.00008400 BTC levels.
Near Protocol (NEAR) Current Statistics
Current price: $5.620
Market Capitalization: $6,720,000,000
Trading Volume: $333,510,000
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