Decoding NEAR Technical Price Chart On Daily Time Frame?

Jul 17

From October 15th, 2023, low of $0.970, the price had peaked more than 800% up to $9.0 by March 14th, 2024. Thereon, the BTC declined, and a broader market followed, resonating with the godfather of global crypto.

In the process of rising and declining, two major zones were developed, where the supply was built around $8.5, and demand was built around $4.0.

Recently, the price of NEAR has jumped from the demand zone as BTC sustained and rose higher; the gain in the past 12 days from where BTC showed sustenance was 62%.

At press time, the EMA bands support the price as it moves past them. MACD highlighted a histogram at 0.225, and the RSI was at 62.57. Those indicators were bullish at the time of writing, where the price last traded at $6.132.

Therefore, if the price keeps surging higher, the resistances are $7.0 and $9.0, respectively. However, if the price declines, then the support is at $5.5 and $4.5, respectively.