Near Protocal is Bullish
$NEAR Protocol continues to show strong potential with its recent price movements and solid upward trends.
By strategically buying on dips, monitoring key resistance levels.
NEAR Protocol Market Analysis and Strategy
âąÂ           Current Market Overview:
âąÂ           Current Price: $7.8164 (up 1.46% in the last 24 hours and 13.45% in the last 7 days)
âąÂ           Support Zones: $6.00 (previous resistance), then $4.60
âąÂ           Resistance Zones: $7.70 (recently broken), then $9.00
âąÂ           All-Time High (ATH): $20.44 (down 61.76% from ATH on Jan 16, 2022)
âąÂ           52-week High: $9.0084 (down 13.23% from this level)
Trends:
âąÂ           Short-term: Strong Up
âąÂ           Medium-term: Strong Up
âąÂ           Long-term: Strong Up
Momentum Indicators:
âąÂ           MACD: Bullish (Signal Line crossover)
âąÂ           RSI-14: Bullish (Center line crossover, RSI > 50)
âąÂ           RSI-14 Levels: Currently neither overbought nor oversold (RSI > 30 and RSI < 70)
Buying on Dips:
âąÂ           Consider buying if the price dips to $7.00 or further down to $6.00.
âąÂ           These levels have previously acted as strong support and are good entry points for accumulating more NEAR tokens.
Monitoring Resistance Levels:
âąÂ           Keep an eye on the $7.70 resistance zone, which has been recently broken. If the price stays above this level, it could become new support.
âąÂ           Watch for the next resistance at $9.00. Breaking and holding above this level could indicate further upside potential.
Risk Management:
âąÂ           Always set stop-loss orders to manage risk effectively. For short-term traders, a stop-loss slightly below $7.70 might be prudent. For longer-term positions, setting a stop-loss below $6.00 can protect against significant downturns.
By following these strategies, you can navigate the current market conditions of NEAR Protocol effectively, balancing both potential gains and risk management.
#near #NearBullish #NEARđđđ $NEAR