NEAR Technical Analysis: Price Moves Up To $2.5

June 2022, for the NEAR cryptocurrency, will be remembered for an unpleasant fact – the loss of the global initiative of buyers in the market. Starting from 2 November 2020, the NEAR price has been moving upwards. Sellers have tried three times in almost 2 years to take control of the trend line of buyers. They succeeded for the third time. The weekly candle from 6 June broke the limit orders of buyers down and firmly secured below the mark of $5.2. This mark was kept for 4 weeks, starting from 9 May.

Source: During these 4 weeks, buyers could not do anything to realize even a small price rebound in the weekly timeframe. The result is the approximation of the NEAR price to $2.5. This mark is interesting because in May 2021 from $2.5 buyers aggressively began to slow down the downward trend. Although in the weekly timeframe, buyers failed to completely stop the fall of NEAR at this point, the momentum subsided and the price turned. Given the possibility of Bitcoin updating the local low even before the end of the trading week on 20 June, we believe that the scenario of the NEAR price fall to $2.5 is quite real. It is in the range of this mark that you can buy NEAR in the long run.

NEAR Technical Analysis On The Daily Timeframe

Source: Analyzing the movement of NEAR price on the daily timeframe, we can see the total weakness of market participants. The NEAR price from 11 May is moving in a falling channel. In this channel, the NEAR price passed due to insufficient forces of sellers to continue the rapid impulse of the price fall. However, despite the weakness of sellers, buyers failed to organize a decent price rebound on 19-21 June, at least to the top of the fall channel. Stopping near the middle line of the falling channel, the NEAR price continued to fall. We expect the final stop of NEAR in the range of $2.5. If we see increased trading volumes and an aggressive rebound – we will look at this cryptocurrency to buy. The target of such a medium-term trade is $5.28.

NEARBTC Price Kept An Important Level Of 0.00012

Source: NEARBTC weekly chart signals to us that buyers are not ready to give the global liquidity zone 0.00012 out of their control. The struggle for this liquidity zone has been going on since 9 May. So far, buyers are able to repel the attacks of sellers. However, if the NEARBTC price remains below this price level, it will be dangerous to invest in this cryptocurrency. In this case, the next point from which to think about buying NEAR will be 0.000058. Though, our main scenario is a rebound of the NEARBTC price to 0.00022. From this point, sellers will have a great chance to form a new fall wave with the update of local lows. Therefore, we recommend fixing your profits in the range of 0.00022.



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