The cryptocurrency industry continues to display a mixed sentiment as the volatility within the crypto market is constantly rising. Moreover, market leaders, Bitcoin and Ethereum price continue to hover close to their respective support levels, indicating uncertainty in future price action for this crypto token.
On the other hand, the NEAR price has added approximately 10% within the past 24 hours and 35.86% over the past seven days, indicating a high potential for a bullish price action during the upcoming month.
After displaying a bearish trend since the start of March, the NEAR price has displayed a strong bullish reversal in the chart by adding 9.86% within the past 24 hours, indicating increased buying-over-selling pressure for the altcoin in the cryptocurrency industry.
Moreover, it has added approximately 35% over the past seven days. Positively, this altcoin has displayed a bullish pattern in the 1D time frame with a high possibility of a breakout rally during the upcoming week, indicating a positive outlook for the Near Protocol token in the coming time.
The Moving Average Convergence Divergence (MACD) shows a rising green histogram, indicating an increase in the buying pressure within the crypto market. Furthermore, the averages show a constant rise, suggesting a bullish outlook for the altcoin in the coming week.
If the market pushes the price above the resistance level of $7.685, the bulls will prepare to test its upper resistance level of $9. Moreover, if the bulls hold the price at that level, it will set the stage for the Near Protocol price to attempt to test its upper level of $10.50 during the upcoming month.
Conversely, if the bears overpowered the bulls, the NEAR price would start trading under a negative influence and test its support level of $6.225. Further, if the bulls fail to hold the price at that level, it will plunge and prepare to test its lower support level of $5.
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