NEAR – ALTCOIN CHART ANALYSIS

Near-Protocol (NEAR) is currently in a sideways/accumulation phase. On the 4H chart, we have been trading in a range between USD 2.80 – 4.60 for the past few weeks.

Although we recently had a short breakout from this range, this was not sustainable and we were immediately sold off again. Overall, we are still in a downtrend.

On the 4H chart we are currently attempting to start a small recovery but are now entering the resistance area of the range and monthly resistance P which is directly above us.

On the daily chart, the RSI is in the lower zone with a slight recovery. We don't have any divergences here at the moment, which is why no impulse can come from here.

So we go by volume. There is much more to get down there than up there, which is why the next few days/weeks are more likely to be downside to get this.

At the top, we only broke out of the downtrend when we break the last high at around USD 6.50. This is not foreseeable in the near future as the overall market environment remains bearish.

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