NEAR is a blockchain technology-based open-source protocol that aids in the development of sustainable decentralized applications at a faster rate. It is a cost-efficient and highly scalable ecosystem. Users can test and deploy new apps on the NEAR protocol at low gas fees. NEAR is the main governance token of this network. Past Trends On March 18, 2021, NEAR started trading at $6.23. As of March 24, 2021, NEAR closed at $4.85. Thus, in the past week, the price has decreased by approximately 28%. In the last 24 hours, NEAR has traded between $4.55-$5.69. https://ift.tt/3lOJ9zP Day-Ahead and Tomorrow Currently, NEAR is trading at $4.77. The price has declined from the opening price of $4.86. Thus, the market looks bearish. The A/D indicator has fallen steeply. Thus, whale distribution is very high. Heavy offloading activity will exert downward pressure on the price. Thus, the NEAR price is likely to decline further. The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Moreover, both the lines are very close to the zero line and may turn positive soon. Thus, a trend reversal may be on the horizon. The RSI indicator faced a bearish swing rejection at 57% and is currently at 52%. Thus, selling pressures are high. Since the bears look strong at present, we can expect the price to drop further. NEAR Price Analysis Currently, the price is way below the Fibonacci pivot point of $5.03. It may soon fall below the first support level of $4.60. If the price downtrend is strong, by day close, we can expect the price to fall below the subsequent support levels of $4.33 and $3.89, respectively. The price has tested and fallen below the 23.6% FIB retracement level of $4.82. By the end of the day, if the price does not retest and breakout of this level, then the bearish trend will continue tomorrow as well.
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