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Market

NEAR has to break this level to resume the uptrend

January 5, 2022 - Around 2 mins mins to read

  • Key Support Level: $ 13
  • Key Resistance: $ 18

After breaking the rising wedge (marked in blue on the chart), NEAR is now just below $ 18, which is currently acting as resistance. Price has to break this level to continue its upward momentum.

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NEAR / USDT weekly chart | Source: TradingView

Technical indicators

Volume: Volume has been high since price broke the wedge. The longer this lasts, the more likely it is that NEAR will break the key resistance. However, the volume is now showing some weakness after the breakout. It is important for buyers to maintain the upward momentum, otherwise the price could fall back into the support zone.

RSI: The daily RSI must reach a higher high soon, otherwise the price action will form a bearish divergence. This will be a signal that the momentum is weakening.

MACD: The daily MACD is rising and seems ready for a new rally. However, the USD 18 resistance must be overcome for the price to move towards higher levels.

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NEAR / USDT daily chart | Source: TradingView

Perspectives

The NEAR bias is bullish. However, the indicators deliver some conflicting messages suggesting that momentum may be easing. If the cryptocurrency fails to break the USD 18 resistance, a pullback is possible.

In this case, the main support is at $ 13.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

NEAR has to break this level to resume the uptrend

  • Key Support Level: $ 13
  • Key Resistance: $ 18

After breaking the rising wedge (marked in blue on the chart), NEAR is now just below $ 18, which is currently acting as resistance. Price has to break this level to continue its upward momentum.

near-ath

NEAR / USDT weekly chart | Source: TradingView

Technical indicators

Volume: Volume has been high since price broke the wedge. The longer this lasts, the more likely it is that NEAR will break the key resistance. However, the volume is now showing some weakness after the breakout. It is important for buyers to maintain the upward momentum, otherwise the price could fall back into the support zone.

RSI: The daily RSI must reach a higher high soon, otherwise the price action will form a bearish divergence. This will be a signal that the momentum is weakening.

MACD: The daily MACD is rising and seems ready for a new rally. However, the USD 18 resistance must be overcome for the price to move towards higher levels.

near-ath

NEAR / USDT daily chart | Source: TradingView

Perspectives

The NEAR bias is bullish. However, the indicators deliver some conflicting messages suggesting that momentum may be easing. If the cryptocurrency fails to break the USD 18 resistance, a pullback is possible.

In this case, the main support is at $ 13.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

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