NEAR Protocol Price Analysis: Is NEAR Protocol Going to Zero After Losing 20DMA Support?
NEAR Protocol has experienced a sudden 13% drop in price, leading to concerns among holders about whether NEAR Protocol is going to zero. The drop can be attributed to the loss of support from the 20DMA, which has been a key factor in recent price movements.
However, there are popular quant traders in the crypto community who believe that there could be a bounce in this zone, which could potentially change the bearish trend.
NEAR Price Analysis: Current Market Price and Retracement
The current market price of NEAR protocol is $3.16, with a 24-hour change of -1.49%. This drop comes after the rejection from a local high at $4.63 on December 26 and a failed consolidation around $3.51 on December 30.
With a retracement move of -31% since the local high, the loss of 20DMA support on January 5 puts NEAR price at risk of falling further down to lower trendline support.
Analysis of NEAR Price Chart and Support Levels
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Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt’s insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension.