Summary
TLDR: NEAR price is showing signs of recovery with transaction numbers increasing, RSI at 73 suggests potential for further price increases. Golden cross on price chart indicates bullish trend. NEAR transactions have surged after a recent dip, RSI remains strong at 73. EMA lines forming a golden cross on the price chart, indicating a potential increase to $9 if $8.57 resistance is upheld. Failure to maintain support at $6.2 could lead to a potential decrease to $5.6.
Key Points
1. The NEAR price is showing promising signs of recovery, with transaction numbers climbing again from a recent dip on March 20. This uptick in activity is complemented by an RSI value of 73, hinting at a strong potential for further increases in price.
2. The emergence of a golden cross on the price chart reinforces this optimistic outlook, often seen as a harbinger of a forthcoming bullish trend. Together, these indicators suggest that NEAR might be gearing up for a significant upward movement in the market.
3. Analyzing the NEAR 4H price chart, the short-term EMA lines just crossed above the more long-term lines. That forms a pattern called “golden cross,” which is a bullish signal. EMA lines, or Exponential Moving Averages, are pivotal trend indicators that prioritize recent price data more heavily. This suggests that the current trend could be shifting from bearish to bullish, mirroring the prospective price movements discussed.