NEAR is a decentralized application that allows applications that can be allowed to use on the web. It runs on a Proof-Of-Stake (POS) mechanism that is called Nightshade. NEAR token can be used to pay fees for transactions and store data. Let us look at the technical analysis for the same. Past Performance On June 25, 2021, NEAR started trading at $2.15. As of July 01, 2021, the closing price of NEAR was $2.08. Thus, in the past week, the NEAR price has hardly been volatile. In the last 24 hours, NEAR has traded between $1.91 – $2.20. https://ift.tt/3xi8kQ8 Day Ahead And Tomorrow Currently, NEAR is trading at $2.08. The price has increased from the opening price of $1.9. Thus, the market looks bullish. The MACD and signal lines are in the negative zone. Plus, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish and we can expect a price pullback. However, both the lines are close to the zero lines and may change signs soon. If buying pressure takes over the selling pressure we might witness a clear breakout on the upside for NEAR. The RSI indicator is at 33%. It has risen from the 29% mark. Thus, it indicates that the buying pressure is high in the market. Hence, we can expect the price to rise for some time. The price has been tested and fallen below the Fibonacci pivot point of $2.31. As some of the oscillators have shown bearish signals, we can expect the price to fall and test the first Fibonacci pivot support level of $2.20 soon. NEAR Technical Analysis The price has been tested and is currently trading below 23.6% FIB retracement level of $2.38. If the price falls below the 23.6% FIB extension level it can test a level of $1.76. At some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. However, if the price tests and rises above the 23.6% FIB retracement level of $2.38. It can test the 38.2% FIB retracement level of $2.76.
The post NEAR Technical Analysis: Price Has Been Tested, Currently Trading Below 23.6% FIB Retracement Level of $2.38 appeared first on Cryptoknowmics-Crypto News and Media Platform.
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