Near Protocol Slips, Will Bulls Hold Above $10?
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Past Performance
The NEAR crypto price is down eight percent versus the USDT in the last 24 hours. Albeit the sharp gains in the past three days, the rejection of higher prices during the early NY session on May 5 may bog ambitious bulls in the short term.
NEAR Technical Analysis
There are hints of higher highs as per the formation in the daily chart. As NEARUSDT recovered from around the 78.6 percent Fibonacci level of the Q1 2022 trade range, buyers stand a slight chance. Aggressive NEAR bulls may load on dips above $10—the lows of the bullish engulfing bar of May 1. This upswing would confirm buyers of early May, setting the base for a possible run towards $20—or higher. However, given current losses and the bearish engulfing bar, the uptrend would be labored.
What to Expect?
Technically, buyers have the upper hand, despite worrying losses This preview is only valid if NEAR coin bears fail to unwind recent gains, driving prices to print new May 2022 lows.