NEAR Price Analysis for December 19

The market is facing a bounce back after a few days of continued decline.

NEAR/USD

NEAR is one of the biggest gainers today, rocketing by more than 10%.

On the hourly chart, one should pay attention to the local resistance level of $2.434. If the daily bar closes near it, there is a chance to see a breakout tomorrow, followed by a test of the $2.50 area.

Despite today’s rise, the price of NEAR has not accumulated enough energy for a midterm rise. If buyers want to hold the initiative, they need to restore the rate to the resistance of $2.613.

Only in that case, one can expect a possible test of the $3 mark.

On the weekly time frame, the price of NEAR has made a false breakout of the previous bar low at $2.101. If the candle closes far from that mark, the growth may continue to the $2.60 area and above.

NEAR is trading at $2.389 at press time.

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