Will the price fall by 50% in the future?

• The NEAR price has shown weakness in the lower high zone.
• The Near Protocol price has slipped below the 20-day EMA, demonstrating the dominance of the bears.

Based on the technical chart, the Near Protocol Price Prediction indicates that the price has been trending positively since the last quarter of 2023. The uptrend in Near Protocol (NEAR) price was interrupted near the $9 hurdle. The uptrend shifted in favor of sellers by mid-March.

Since mid-March, the price of crypto assets has been declining by forming lower lows and lower highs. In the last week of August, buyers attempted to break above the 200-day EMA but failed to do so.

The price has shown a bearish sign at the lower high zone. It has pushed the price below the 20-day EMA.

Almost protocol was trading at $4.41 at press time, up 1.60% over the past 24 hours. Its market cap was $4.94 billion and its 24-hour trading volume was $277.03 million.

Could NEAR price rise after the breakout?

Shmeeps (@deciplesatoshi) tweeted that Near Protocol’s price chart looks crazy. Close to the crypto price has formed a falling wedge pattern on the weekly time frame. The price has recovered from the low and is waiting for the breakout to shoot higher.

Buyers could continue to dominate if the price initiates a breakout from the falling wedge pattern. Assuming trading volume increases at the time of the breakout, the price could continue to trend positively for an extended period of time.

Technical analysis of Near Protocol price over a 1-D timeframe

According to the technical chart, buyers have attempted to surpass the last swing high since March. However, sellers have been strong enough. At press time, the price has initiated a bearish pullback in the lower high zone, which is a bearish sign.

NEAR/USD 1-D chart | Source: TradingView

According to the diagram structure, the NEAR Crypto Price has slipped below the 20-day EMA. It would be a bearish signal if the price of the digital asset remains below the 20-day EMA. Suppose the NEAR price starts trading below the $4 mark; sellers could lose 50% and create a new lower low.

On the other hand, if the crypto price breaks above the 200-day EMA, buyers could become confident. Provided the price starts trading above the recent swing highs, it would be a buying opportunity.

Based on the technical indicators, Near Protocol Crypto The price was trading below the key moving averages. This indicated the pessimistic forecast. The RSI has formed a death crossover with the RSI-based moving average, demonstrating the dominance of sellers.

Near Protocol Price Prediction

The Near Protocol Price Prediction demonstrated the bearish outlook and formed a bearish candlestick in the lower high zone. Sellers have pulled the price below the key moving average and the RSI has developed a death crossover.

Since March, the NEAR price has been declining, forming lower lows and lower highs. Sellers have been strong enough in the last few months, which is why the price has not been able to reach the last swing high.

Technical levels

The uptrend in Near Protocol crypto price could be disrupted near the $6.50 and $9.00 levels. The price could find support near the $4.00 and $2.50 levels.

Disclaimer

This article is for informational purposes only and does not constitute financial, investment or other advice. The author or anyone mentioned in this article is not responsible for any financial loss that may arise from investing or trading. Please do your own research before making any financial decisions.