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Cryptoknowmics 2022-04-27 11:03:44

NEAR Technical Analysis: Will The Downfall Touch $10?

As NEAR prices fall more than 10% last day, sellers break multiple EMAs and eye the $10 mark. Should you keep holding as sellers regain trend control? Key technical points: The flag pattern breakout rally crosses under the $13.5 mark. The downfall cracks under the 100-day EMA. The 24-hour trading volume of Near Protocol is $1.28 Billion, marking a 3% fall. Past Performance of NEAR With the falling pattern breakout, the NEAR coin price cracked under multiple support levels, accounting for a downfall of 26% within the last week. The downfall breaks the 50 and 100-day EMAs and currently retests it with a bullish breather. Source-Tradingview NEAR Technical Analysis As the selling pressure grows, the NEAR coin price may continue the downfall to reach the 200-day EMA. Hence, traders can shortly find an entry opportunity at current prices with a target of $10. As prices fall under the 50 and 100-day EMAs, bears ensure a downfall to the 200-day EMA. Moreover, the flattish trend of the EMAs may shortly experience a bearish influence and give a bearish crossover. MACD Indicator: The MACD and signal lines reach the zero line while maintaining a bearish alignment. Moreover, the intensifying downtrend in the negative MACD histogram reflects a rise in the underlying bearishness. RSI Indicator: The sudden sharp fall in the RSI value crosses below the 14-day and approaches the oversold boundary. Hence, the indicator reflects a surge in sellin...

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