In this NEAR Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for NEAR-USDT. NEAR Protocol is a decentralized platform that enables the development of scalable and interoperable applications. With its sharding technology, NEAR allows for faster and more secure transactions, making it an attractive option for users looking for a high-performance blockchain solution. Additionally, NEAR’s innovative use of proof-of-stake (PoS) consensus and off-chain data storage helps to reduce energy consumption and improve network efficiency.
NEAR Protocol Price Overview:
As of May 10, 2024, NEAR Protocol is trading at approximately 7.508 USDT. Let’s dive into the detailed price action for NEAR-USDT:
| Metric | Value |
|---|---|
| Open (O) | 7.479 |
| High (H) | 7.597 |
| Low (L) | 7.408 |
| Close (C) | 7.508 |
| Volume (C) | 4,376,495.20 |
- Open (O): The opening price for today’s trading session was approximately 7.479 USDT.
- High (H): NEAR Protocol reached a daily high of around 7.597 USDT.
- Low (L): The daily low for NEAR-USDT was approximately 7.408 USDT.
- Close (C): At the time of analysis, NEAR Protocol is trading near its daily close of 7.508 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.39% |
| 3D Change (%) | 5.48% |
| 7D Change (%) | 9.22% |
| 30D Change (%) | 7.52% |
| 90D Change (%) | 146.73% |
| YTD Change (%) | 105.64% |
Over the past three days, NEARUSDT has risen by approximately 5.48%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 9.22%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with NEARUSDT maintaining an upward trend of approximately 7.52%, despite intermittent fluctuations. Examining the last 90 days, NEARUSDT has witnessed substantial rise of approximately 146.73%, reflecting strong long-term confidence. Year-to-date, NEARUSDT has steadily increased by around 105.64%, 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 0.9335.
- Momentum score is 0.34407.
NEAR USDT Technical Analysis
NEAR Protocol Trading Volume:
The trading volume for NEAR Protocol (NEAR) over the past 24 hours has been insignificant, with approximately 4,376,495.20 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): NEAR Protocol is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for NEAR-USDT is currently in the high zone, around 55.9456. This suggests that NEAR Protocol is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
NEAR Protocol (NEAR-USDT) is currently exhibiting signs of short-term bullish 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 high RSI and insignificant trading volume are high signals for potential upward movement.
Explore NEAR Protocol’s (NEARUSDT) potential for growth at 7.51 USDT as technical analysis leans bullish, emphasizing strong support and promising indicators.
Explore more with our thorough insights on NEAR BTC NEAR Protocol Technical Analysis — an essential read if you enjoyed the content of this post.
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.