In this NEAR Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for NEAR-USDT. Here are three sentences about NEAR Protocol (NEAR) cryptocurrency: 1. NEAR is a decentralized platform that enables the development of scalable and interoperable applications, with a focus on usability and accessibility. 2. NEAR’s sharding architecture allows for faster and more secure transactions, while its proof-of-stake consensus algorithm ensures the network’s security and sustainability. 3. With NEAR, developers can build and deploy decentralized applications (dApps) with ease, using familiar programming languages like JavaScript and Rust.
NEAR Protocol Price Overview:
As of October 02, 2023, NEAR Protocol is trading at approximately 1.117 USDT. Let’s dive into the detailed price action for NEAR-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.161 |
| High (H) | 1.172 |
| Low (L) | 1.101 |
| Close (C) | 1.117 |
| Volume (C) | 4,697,205.50 |
- Open (O): The opening price for today’s trading session was approximately 1.161 USDT.
- High (H): NEAR Protocol reached a daily high of around 1.172 USDT.
- Low (L): The daily low for NEAR-USDT was approximately 1.101 USDT.
- Close (C): At the time of analysis, NEAR Protocol is trading near its daily close of 1.117 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.71% |
| 3D Change (%) | -0.36% |
| 7D Change (%) | 1.45% |
| 30D Change (%) | -0.36% |
| 90D Change (%) | -20.16% |
| YTD Change (%) | -11.07% |
Over the past three days, NEARUSDT has declined by approximately -0.36%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 1.45%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with NEARUSDT maintaining a downward trend of approximately -0.36%, despite intermittent fluctuations. Examining the last 90 days, NEARUSDT has witnessed substantial fall of approximately -20.16%, reflecting strong long-term confidence. Year-to-date, NEARUSDT has steadily dropped by around -11.07%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
NEAR Protocol Live Chart:
You can access a live price chart for NEAR-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.28534.
- Momentum score is -0.00357.
NEAR USDT Technical Analysis
NEAR Protocol Trading Volume:
The trading volume for NEAR Protocol (NEAR) over the past 24 hours has been significant, with approximately 4,697,205.50 USDT traded against NEAR. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): NEAR is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): NEAR Protocol is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for NEAR-USDT is currently in the low zone, around 44.35767. This suggests that NEAR Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
NEAR Protocol (NEAR-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
