Near is a public blockchain network that facilitates developers, community members, and markets to build a robust, interconnected, consumer-centric world. It allows users to build innovative apps that are 100% user-owned. Easy onboarding, high scalability, high speed, and cost-efficiency are other striking features of this ecosystem. NEAR is the customized token of this network and its technical analysis is as follows. Past Performance On Jun 2, 2021, NEAR opened at $3.23. On Jun 8, 2021, NEAR closed at $2.90. Thus, in the past week, the price has decreased by roughly 10%. In the last 24 hours, NEAR has traded between $2.78-$2.95. https://ift.tt/2TWWjRz Day-Ahead and Tomorrow Currently, NEAR is trading at $2.86. The price has decreased from the day’s opening price of $2.90. Thus, the market seems bearish. The MACD and signal lines have turned negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, we can expect the price to fall further. Currently, the RSI indicator is at 32%. It faced rejection at 45% and fell to the current level. But, selling pressures are very high for NEAR. Thus, the RSI oscillator is giving further credence to the bearish momentum indicated by the MACD oscillator. Besides, the OBV indicator is downward sloping too. Thus, selling volumes are higher than buying volumes. High selling activity will exert downward pressure on the NEAR price. In short, all three oscillators have given bearish signals. NEAR Technical Analysis Currently, the price is below the Fibonacci pivot point of $2.88. The price may soon fall below the first and second support levels of $2.81 and $2.77, respectively. The price has tested and fallen below the 50% FIB retracement level of $2.86. It may soon fall below the 38.2% and 23.6% FIB retracement levels of $2.84 and $2.82 respectively. Thus, as of now, the bears are strong. Hence, the declining price trend may continue today and tomorrow.
The post NEAR Technical Analysis: Look Out for Support Levels of $2.81 and $2.77 appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
