NEAR Price Prediction: NEAR Witnessed Breakout, Bull Eyeing $5

• 1 NEAR price noted a breakout, crossed the $3 mark.
• 2 Buyers have gained momentum and persisted in extending the up move.

NEAR price witnessed a channel breakout and led a massive upward move above the resistance mark of $3. Moreover, the price action shows the buying momentum and massive follow on buying in the recent sessions. NEAR price has approached the bullish trajectory and is close to reach the swing top of $4. However, buyers have acquired momentum and are setting their eyes to claim the mark of $5 soon.

NEAR price has surpassed the upper neckline hurdle of $3 and plotted a huge bullish candlestick above the neutrality. Moreover, the NEAR price has escaped the key moving averages and is sustaining gains decisively. Following the crypto market pump, NEAR price recovered gains from the bottom mark of $1 and surged over 250%, participating in the market rally and being in the list of top gainers for the past weeks.

The live price of NEAR crypto is $3.78, with an intraday gain of 11.17%, showing bullishness on the chart. Moreover, the trading volume increased by 16.37% to $652.77 Million. However, the pair of NEAR/BTC is at 0.0000867 BTC, and the market cap is $2.30 Billion. Analysts have maintained a bullish rating, suggesting the outperformance will continue in the following sessions.

NEAR On Daily Charts Displays Channel Breakout

Source: NEAR Price Chart by TradingView

On the daily charts, NEAR price is gaining bullish momentum and led a massive surge displaying a strong uptrend in the recent sessions. Furthermore, the trend replicates bullish bias and sellers are trapped. If buyers succeed to sustain gains above $3.50, short covering rally will lead NEAR price to the $4 mark.

The relative strength index (RSI) curve stayed in the overbought zone and formed a positive divergence on the chart. The MACD indicator shows a bullish crossover and green bars on the histogram, suggesting that outperformance will continue in the following sessions.

Weekly Charts Exhibits Bullish Crossover

Source: NEAR Price Chart By TradingView

On the weekly charts, NEAR price has surpassed the 100 day EMA sharply and led a massive breakout in the recent sessions. Furthermore, the NEAR price has rebounded from the bottom zone and is heading to retest the swing top of $5 and attained a sharp buying momentum. Per the Fibonacci retracement zone, NEAR price has escaped the 61.8% zone and is above the mid bollinger band.

Summary

NEAR price displayed a rising channel breakout and witnessed a sharp buying action climbed above the prompt hurdle of $3. Furthermore, the price action exhibits the buyers dominance and celebrates the rally.

Technical Levels

Support Levels: $3.50 and $3

Resistance Levels: $4 and $4.80

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

Amanda Shinoy

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.

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