Market Analysis

NEAR PROTOCOL PRICE ANALYSIS & PREDICTION (November 21) – Near Flips $2 After Rallying 100% In A Month, Where Next?

Near advanced rally this week after pulling back slightly last weekend. The price looks strong on the daily with no signs of weakness. Currently, it leads the top gainer chart with a 21% increase in 24 hours.

After losing momentum for almost two years, Near found a solid ground level (above $1) in October and started to show signs of recovery. 

It pushed through an important resistance line and later entered a consolidation phase for days. That phase served as an accumulation period for the token before breaking higher to test $2.18 today.

However, it has retraced briefly under $2.1, looking for a close support level on the lower timeframe to resume buying pressure. April’s resistance level would be the next buying target for this asset when it finds support. 

But if the price further dips and fails to find support above the $1.5 level, Near may fall back to the recent recovery level before resuming buying at full speed. That does not look realistic now due to the latest price increase.

So far, Near has posted a 100% gain in the last 30 days. Its short-term bullish trajectory remains intact on the daily chart. More positive actions are expected if the daily volume inflow increases.

NEAR’s Key Level To Watch

Source: TradingView

In the next upsurge, the key resistance level to watch for a test lies at $2.4 – April’s high. After that, the $2.73 level is the next resistance to keep in mind. It may tap $3 and $3.27 if an explosion occurs.

In case of a drop, the $1.8 and $1.67 support levels are key areas to watch for a rebound. There’s a close support level at $14 in case of a breakdown.

Key Resistance Levels: $2.4, $2.73, $3.27

Key Support Levels: $1.8, $1.67, $1.4

  • Spot Price: $2.08
  • Trend: Bullish 
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: inueng/123RF // Image Effects by Colorcinch

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