NEAR Technical Analysis: Will Buyers Create New ATH Above $20?

Key technical points:

Past Performance of NEAR

NEAR coin price action shows a rounding bottom breakout rally in the daily chart, as forecasted in our previous article. In addition, the rally shows a phenomenal growth in underlying bullish momentum as it breaks above the $16.5 mark within a week of the $13.5 breakout. 

Source-Tradingview

NEAR Technical Analysis 

The outstanding growth of 30% within a week of retesting the $13.5 breakout reflects a bullish outbreak in the NEAR/USD chart. Hence, the possibility of the uptrend crossing above the $20 mark to create a new all-time high is growing outstandingly.

The crucial daily EMAs (50, 100, and 200-days) regain the bullish alignment with the 50 and 100-day EMA diverging to increase the spread. Moreover, the rising EMAs reflect the underlying growth in bullishness.

RSI Indicator: The RSI slope surpasses the 70% boundary after moving sideways in the nearly overbought zone. The 14-day SMA provides constant support to the uptrend. Moreover, the lack of bearish divergence increases the chances of uptrend continuation.

MACD Indicator: The MACD and signal lines persist in the uptrend with a growing bullish spread after recently surviving a bearish cross. Hence, the indicator projects a high possibility of bullish continuation.

The NEAR technical analysis denotes growth in underlying bullishness and a buying opportunity.

Upcoming Trend 

The NEAR coin price projects an improved chance of a bull run above the $20 mark as the momentum increases of the uptrend. Hence, traders buying at market price can find the uptrend creating new all-time highs.

Support Levels: $16.5 and $15

Resistance Levels: $18.5 and $20