The NEAR Protocol Showing Signs of Recovery ๐
The NEAR price is displaying positive signs of recovery, with transaction numbers on the rise following a recent dip on March 20. The current surge in activity, combined with an RSI value of 73, indicates a strong potential for further price increases. Additionally, the presence of a golden cross on the price chart further bolsters this optimistic outlook, often signaling a forthcoming bullish trend. Together, these indicators suggest that NEAR may be gearing up for a significant upward movement in the market.
NEAR Transactions on the Rise ๐
After a notable drop to 3.1 million daily transactions on March 20, the NEAR protocolโs transaction count is showing signs of recovery, steadily increasing following a slump observed between March 12 and 20. During this period, the NEAR price exhibited minimal movement, essentially trading sideways as daily transaction volume gradually decreased. The uptick in daily transactions post-March 20, reaching 6.8 million on March 26, marks its highest point since December 2023.
- NEAR price moved from $5.96 to $6.44 during this phase
- The uptick in transactions suggests a potential rally in the NEAR market
NEAR RSI Currently at 73 ๐
During the surge from February 29 to March 13, when NEARโs price saw a notable increase, the Relative Strength Index (RSI) remained above 80. Following this period, a correction ensued, with the price adjusting from $8.84 to $6.6 within four days. The RSI currently stands at 73, down from a peak of 78, indicating a modest slowdown in the rate of price appreciation but still within a healthy range for further growth.
- An RSI of 73 suggests a strong market with room for price expansion
- The recent drop in RSI signifies a potential for sustained positive momentum
NEAR Price Prediction: EMA Lines Formed a Golden Cross ๐
Looking at the NEAR 4H price chart, the short-term EMA lines have crossed above the longer-term lines, forming a golden crossโa bullish signal. This suggests a potential shift from a bearish to a bullish trend, aligning with the anticipated price movements.
- EMA lines prioritize recent price data and indicate trends more clearly
- A critical resistance level at $8.57 could lead to a 25% increase towards $9
Hot Take ๐ฅ
The NEAR Protocol is on the path to recovery, with transaction numbers and key indicators pointing towards a bullish trend. With the potential for further price increases and positive market momentum, NEAR investors could see significant gains in the near future. Keep an eye on the evolving market dynamics and stay informed to make informed investment decisions in the dynamic crypto space!
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