NEAR Protocol Cryptocurrency Forecast
Volatile ride for NEAR Protocol cryptocurrency price on Monday moving between $6.55 and $7.38
(Updated on May 13, 2024)
The NEAR Protocol cryptocurrency price gained 2.96% on the last trading day (Monday, 13th May 2024), rising from $7.09 to $7.30. During the last trading day the cryptocurrency fluctuated 12.75% from a day low at $6.55 to a day high of $7.38. The price has fallen in 6 of the last 10 days but is still up by 6.56% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 392 million more shares were traded than the day before. In total, 448 million shares were bought and sold for approximately $3.27 billion.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 49.32% during the next 3 months and, with a 90% probability hold a price between $8.96 and $15.29 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NEARUSD Signals & Forecast
The NEAR Protocol cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.22 and $6.60. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -8.78%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for NEAR Protocol cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $6.89 and $6.65. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, NEAR Protocol finds support just below today's level at $6.89. If this is broken, then the next support from accumulated volume will be at $6.65 and $5.53.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.83 between high and low, or 12.75%. For the last week, the cryptocurrency has had daily average volatility of 7.88%.
Our recommended stop-loss: $6.87 (-5.80%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 59 days ago.)
Trading Expectations (NEARUSD) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect NEAR Protocol to open at $7.07, and during the day (based on 14 day Average True Range), to move between $6.58 and $8.01, which gives a possible trading interval of +/-$0.711 (+/-9.75%) up or down from last closing price. If NEAR Protocol takes out the full calculated possible swing range there will be an estimated 19.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.89 (5.50%) than the resistance at $7.87 (7.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NEAR Protocol cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NEAR Protocol cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.920 Buy Candidate Upgraded
Predicted Opening Price for NEAR Protocol of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $7.07 ( 3.04%) | $7.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEARUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.91 | 8.40 % | |
| R2 | 7.59 | 4.03 % | ||
| R1 | 7.39 | 1.33 % | ||
| Current price: | 7.30 | |||
| Support | S1 | 6.75 | -7.41 % | |
| S2 | 6.56 | -10.11 % | ||
| S3 | 6.24 | -14.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.99 | 9.57 % | |
| R2 | 7.98 | 9.36 % | ||
| R1 | 7.87 | 7.85 % | ||
| Current price | 7.30 | |||
| Support | S1 | 6.89 | -5.50% | |
| S2 | 6.65 | -8.80% | ||
| S3 | 5.53 | -24.19% |
FAQ
Click here for our free guide on how to buy NEAR Protocol Cryptocurrency.
