NEAR Protocol (NEARUSD) Price Aiming at $15 Resistance Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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NEAR Protocol Price Analysis – March 27
The breakup of the $13 price level may propel the price to the resistance level of $15 provided the $14 level does not hold. Failure to break up the $13 may lead to the continuation of price ranging movement. However, traders should watch the support levels at $9, and $7 in case the price breaks down the $12 level
NEAR/USD Market
Key Levels:
Resistance levels: $13, $14, $15
Support levels: $12, $9, $7
NEAR/USD Long-term Trend: Bullish
NEAR Protocol is bullish on the daily chart with the formation of Head and Shoulder chart pattern. Price is rejected at the significant support level. NEAR has tested the support levels of $9 twice; the first touch was on March 08, the price pulled back. The bears pushed the coin down to test the same level on March 14, the bearish momentum was not enough to break down the support level of $9. This scenario makes the level to be a significant level for the traders. The price is trying to break up the $13 resistance level at the moment.
The NEAR has crossed over the two dynamic resistance level upside, struggling to break up the resistance level of $13. The breakup of the $13 price level may propel the price to the resistance level of $15 provided the $14 level does not hold. Failure to break up the $13 may lead to the continuation of price ranging movement. However, traders should watch the support levels at $9, and $7 in case the price breaks down the $12 level.
NEAR/USD Medium-term Trend: Bullish
NEARUSD is bullish in the 4-hour chart. The coin is testing the resistance level of $171 the third time. The price action in the 4-hour chart is forming Head and shoulder chart pattern, which is a bullish chart pattern. The price may break up the current testing resistance level and it may place the price at $15 resistance level.
NEAR is trading above the 9 periods EMA and 21 periods EMA at $13 level. The two EMAs are not close to each other indicating medium volatility in the market. The relative strength index period 14 is pointing down which connotes sell signal, it may be a pullback.
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