š Basic Information
ā¢ Current price: $4.16
ā¢ Market capitalization: $5.07 billion USD
ā¢ 24h trading volume: $222.7 million USD
ā¢ ATH (highest peak): $20.44 (January 2022)
ā¢ ATL (low): $0.53 (November 2020)
ā¢ Peak decline rate: 79.6%
š Market Trends and Structure
ā¢ Short-term trend: NEAR is currently down slightly by 2.2% over the past 24 hours, trading around the $4.15 support level. This is a sign of a short-term correction as the price approaches the support level.
ā¢ Long-term trend: With a drop of nearly 80% from the peak, NEAR remains in a long-term downtrend, but there are signs of consolidation around the current price. For a long-term recovery, the price needs to break key resistances like $5.0 and $6.0.
š Key Technical Indicators
ā¢ SMA & EMA: NEAR is trading below the major moving averages, which signals that the downtrend is still dominant. A break above these moving averages would be a positive signal.
ā¢ RSI (Relative Strength Index): RSI is currently at an average level, indicating that NEAR has not entered oversold or overbought territory. If RSI falls below 30, a stronger correction could occur.
ā¢ MACD: There is no clear positive crossover signal yet. If the MACD gives a bullish signal above the signal line, this will be a good signal for a short-term recovery.
š° Volume Analysis and Market Sentiment
ā¢ Trading volume: 24-hour trading volume is quite stable, showing significant interest from investors. If volume increases along with price when approaching resistance, this will be a positive signal.
ā¢ Market sentiment: Investor sentiment remains cautious, especially as NEAR has not yet shown strong momentum to break the downtrend. Investors tend to take a more defensive stance before there are clear signs of recovery.
šÆļø Candlestick Analysis and Price Patterns
ā¢ Candlestick pattern: Recent candles have not shown strong buying power, which shows that selling power is still dominant. A bullish candlestick pattern such as āengulfing bullishā is needed to confirm the uptrend.
ā¢ Support and Resistance: Current major support is at $4.0, and important resistance is at $5.0. If NEAR breaks $5.0 on strong volume, it could provide momentum for the next rally.
š Conclusion and Scoring
Score Criteria
Market Trends 6
Trading Volume 7
Momentum Power 6
Resistance and Support 7
Candlestick Analysis 6
Market Psychology 6
Key Technical Indicators 6
Total score 44/70
Overall Rating
ā¢ Total score: 44/70
ā¢ Rating: 62.9% - Need to follow up more
NEAR Protocol is currently in the accumulation phase after a long correction. Technical indicators do not yet show a sustainable uptrend. If NEAR breaks the $5.0 resistance and maintains high volume, a recovery can be expected.
