Price Changes and Market Trends of the NEAR Cryptocurrency

The NEAR cryptocurrency has caught attention with decreased transaction volume and Relative Strength Index (RSI) from March 3 onwards. However, the RSI continues to stay above the threshold that gives an extreme purchase signal. The price graph indicates a possible trend reversal intersection. Transaction Volume and Price Relationship in NEAR NEAR achieved a record transaction volume of 6 million on 3 March, but experienced a significant decrease in transaction count in the first half of March. Despite this, the price of NEAR increased by 68.77%, from $2.85 to $4.81. Despite slowing down in transaction movements after March 3, the price rose by 116.46% to $8.94 on March 14, which could be an independent movement from general crypto market trends. RSI and EMA Indicators Between February 29 and March 13, NEAR’s RSI level was above 80, indicating high purchasing activity. However, quickly after that, the NEAR price decreased from $8.84 to […]

Price Changes and Market Trends of the NEAR Cryptocurrency

The NEAR cryptocurrency has caught attention with decreased transaction volume and Relative Strength Index (RSI) from March 3 onwards. However, the RSI continues to stay above the threshold that gives an extreme purchase signal. The price graph indicates a possible trend reversal intersection.

Transaction Volume and Price Relationship in NEAR

NEAR achieved a record transaction volume of 6 million on 3 March, but experienced a significant decrease in transaction count in the first half of March. Despite this, the price of NEAR increased by 68.77%, from $2.85 to $4.81. Despite slowing down in transaction movements after March 3, the price rose by 116.46% to $8.94 on March 14, which could be an independent movement from general crypto market trends.

RSI and EMA Indicators

Between February 29 and March 13, NEAR’s RSI level was above 80, indicating high purchasing activity. However, quickly after that, the NEAR price decreased from $8.84 to $6.6 and the RSI value dropped to 78. This decrease in RSI indicates weakening momentum of price increases. EMA indicators suggest that the current price trend may shift from an increase to a decrease.

The $5.13 level is seen as an important support level for the NEAR price. If it cannot maintain this support level, a decrease of 45% to $3.64 is possible. However, if the current trend reverses, NEAR’s price could rise to around $9, an increase of 35%.

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