NEAR The coin bounced off the 0.5 Fibonacci level in the early morning hours and showed an impressive recovery. One possible reason for this spike in price is that MoonPay allows users to purchase NEAR coins worldwide. The coin is currently aiming to challenge its all-time high resistance at $13 again.
Important Technical Points
- The NEAR coin provides a bullish cross of the 20 and 50-day EMA.
- NEAR’s intraday trading volume stands at $660.5 million, which represents a 3.83% gain.
November, NEAR, which dropped its price to the 0.5 Fibonacci retracement level and lost 40% of its value, started a correction phase. However, the coin price got enough support from this low and showed a strong recovery on this technical chart.
The crypto asset, which is trading above key EMA levels (20, 50, 100 and 200), continues to maintain its uptrend. Besides, the chart also shows the bullish cross of the 20 and 50 EMA, attracting even more buyers to the coin.
The daily Relative Strength Index (56) showed a similar recovery, supporting the ongoing rally.
NEAR/USD 4-Hour Timeframe
Until now, NEARThe recovery phase is up 50% from the lower $6.5 support. The coin price also managed to break out of the key $10 resistance with strong support from the trading volume. Crypto traders can expect a minor retest to this breakout point, which will provide a better entry opportunity for traders.
Based on traditional pivot levels, traders can wait for the nearest resistance at $11.1 followed by $12.7 for NEAR price. On the other hand, support levels are at $9.2 and $7.7.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.