Recently, the NEAR token faced resistance at the 50-day EMA mark and witnessed a decline. However, analysts predict a potential rebound in the near future.
NEAR Faces Challenges
Last week, buyers aimed to breach the $5 mark, but due to low investor interest, the token slipped to the 20-day EMA support level. Despite the minor decline, a short-term rebound and possible price increase are expected in the upcoming trading sessions. The token's price fell over 30% in the last two months and may see a trend reversal soon.
Volume and Volatility Overview
Currently, NEAR is trading at $4.39 with a decline of 1.29% in the last 24 hours. A significant drop in trading volume (by 11%) also indicates reduced seller interest. The RSI line has retracted toward the midline from the overbought zone, indicating substantial selling pressure.
Token TVL Growth
Since the beginning of this month, the TVL has risen to $212.55 million, reflecting investor confidence. If the token finds support around the 20-day EMA, further increases to $5 and $5.70 are possible in the short term.
The NEAR token is in a state of movement and may show growth in the near future. Important support levels remain at $4 and $3.60, with the nearest resistance at $5.50.
Comments