Make or Break as Near Protocol (NEAR) Holds on at Support of Long-Term Channel - BitcoinEthereumNews.com
TeknolohiyaMake or Break as Near Protocol (NEAR) Holds on at Support of Long-Term Chanel05 / 19 / 2022Balita ng Ethereum ng Bitcoin Despite bouncing at a confluence of long-term support levels, technical indicators for Malapit sa Protocol (NEAR) do not show any bullish reversal signs. NEAR has been falling since reaching an all-time high price of $20.59 on Jan. 14. The price created a lower high on April 8 and has been falling at an accelerated rate since. It is possible that the entire downward movement has been contained inside a descending parallel chanel. Such chanels usually contain corrective structures. If the chanel is in place, then the price bounced at its support line on May 11. The bounce also coincided with the $6.40 horizontal support area. As a result of this confluence, the $6.40 region is considered to be a very strong support area. A breakdown from it could be the catalyst for the acceleration of the downward movement. However, despite the slight bounce, technical indicators are bearish. This is especially visible in the weekly RSI, which has decreased below 50 (red icon). Even though the indicator is now in oversold territory, it has not generated any bullish divergence. NEAR/USDT Chart By TradingView Negosyante ng Cryptocurrency