Near Protocol Jumps Over 18% Today! Will NEAR Price Hold Its Gains?

The post Near Protocol Jumps Over 18% Today! Will NEAR Price Hold Its Gains? appeared first on Coinpedia Fintech News

The crypto industry has recorded an upswing of less than 1% within the past day. Further, the top crypto tokens continue to display minor fluctuations in their price. On the other hand, the Near Protocol price has jumped over 17%, making it the top gainer in the crypto market for the day.

The NEAR price traded in a closed range between $1.733 and $1.888 for over a week, following which the market gained momentum and the price surged. After multiple attempts, the price successfully broke out of the resistance level at $2.066.

TradingView: NEAR/USDT

The NEAR coin price jumped over 14% before facing rejection at $2.365. Following this, the price traded in a consolidated range for a while after which the bulls broke out of the range but faced rejection at $2.564.

After this, the price was pulled back within the consolidated range where it traded sideways for about two weeks. Recently, the bulls regained momentum and jumped over 33% during this week. Further, the price is on the run to test its resistance level at $2.853 of which the outcome is unpredictable.

The Moving Average Convergence Divergence (MACD) displays a rising histogram, indicating an increased buying pressure in the market. Moreover, the averages show a sharp rise, suggesting the price will continue gaining value in the coming days.

Will The NEAR Price Go Up Again?

If the bulls hold the price above the support level of $2.714, the NEAR price will continue to gain value and test its upper resistance level of $2.853 soon.

Maintaining the price at the level will set the stage for the Near Protocol price to test its resistance level of $3 this week.

Conversely, if a trend reversal occurs, the Near token will lose its momentum and fall to test its support level of $2.564. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $2.365 in the coming days.