NEAR Technical Analysis: NEAR price Eyes 15% Hike with $17.6 Breakout

Key technical points:

Past Performance of NEAR

Responding to a rounding bottom pattern, the NEAR coin price witnessed a steady rally after rebounding from the $9.69 support. The bull run reached the $17.6 resistance level, registering an 82% ROI. Amid the recent sell-off in the crypto market, the buyers struggled to overcome the $17.6 ceiling, forming a minor consolidation phase. However, the coin price maintains an ascending trendline, which leads to the ongoing bullish rally. 

Source-Tradingview

NEAR Technical Analysis 

The NEAR coin price bounced back from the dynamic support trendline with four consecutive green candles. So far, the recovery reflects a 15% gain and continues to approach the 17.6% overhead resistance. A bullish breakout from this resistance would indicate the buyers are ready for another leg higher. 

The rising crucial EMAs(20, 50, 100, and 200) reflect a solid bullish trend in a bullish sequence. Moreover, the 20-day EMA provides dynamic support for the occasional pullbacks. 

RSI Indicator: A bearish divergence on the daily-RSI slope undermines the buyer's attempts to breach the 17.6 mark, suggesting the coin could face another significant correction.

MACD Indicator: The fast and slow line failed to diverge despite the fact that a bearish crossover indicates weakness in the bearish momentum. Inversely, the possible bullish crossover would bolster the $17.6 breakout. 

In a nutshell, the NEAR technical analysis accentuates the high possibility of bullish continuation above the $17.6 mark. 

Upcoming Trend 

If buyers provide a bullish breakout and close above $1.76 resistance, the accelerated bullish momentum would soar the NEAR price 15% higher to $20.5. The following breakout from this price pattern neckline would indicate an uptrend continuation. 

Support Levels: $15.3 and $14.1

Resistance Levels: $20.5 and $17.6