šŸš€ 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%

šŸ“ˆ 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.

šŸ” 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.

šŸ’° 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.

šŸ•Æļø 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 ā€œengulfing 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.

šŸ“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.