- The market cap of the NEAR Protocol has declined by 10.05% in the last 24 hours.
- The NEAR crypto price has declined by 83% from its all-time high.
NEAR is a decentralized platform for building and running dApps. It offers community-operated cloud infrastructure, censorship-resistance, and high performance. NEAR token holders can use, govern, and stake on the platform. NEAR was founded by Polosukhin, Skidanov, and Kuzyakov in 2018.
The NEAR Protocol has witnessed a decline of 30.4% in its trading volume and the volume ranking of the crypto is #40 as per CoinMarketCap. Moreover, the volume/market cap ratio of the crypto is 7.03% and its circulating supply is 1.004 Billion NEAR.
The current market cap dominance of the NEAR Protocol crypto is 0.197% in the global cryptocurrency market. Moreover, the current market cap rank of the crypto is 26th. Also, the market cap value of the NEAR crypto is worth $3.367 Billion.
The fully diluted market cap of the NEAR crypto is $3.353B and the total supply is 1.0 Billion NEAR. However, the max supply of the crypto is undefined.
NEAR Protocol Derivatives Analysis
The derivatives traded volume of the NEAR Protocol is worth $431.90 Million, which has declined by 26.3% in the last 24 hours. Also, the open interest of the crypto has declined by 8% and the recorded long liquidation of the crypto is much higher.
NEAR Crypto Technical Analysis
Following the most recent low, the price of NEAR has increased by 222% and has also broken above the crucial resistance level. Currently, the NEAR price is taking support at the breakout zone.
The formation of any bullish pattern on the weekly chart can further lead the price to much higher levels.
NEAR/USD Chart by TradingView.com
The EMAs such as the 50-day and the 200-day EMAs are forming a golden cross pattern on the charts. Although the price of the crypto is above the EMAs, the NEAR price is forming bearish candlesticks on the charts.
Thus, one must wait for the formation of bullish candlesticks on the charts for a better confirmation on the continuation of a bullish trend.
The RSI is situated at a level of 48.70 on the daily timeframe and if it rebounds above the 50-level, we might see the price soaring to even higher levels.
Conclusion
NEAR is a high-performance platform for dApps with a strong community and governance. It has a large market cap, volume, and supply. It is bouncing from a breakout level and forming bullish patterns on the charts. The technical indicators are mostly bullish at the moment and so the price of NEAR is likely to rise higher in the future.
Technical Levels
Support Levels: $0.900 and $2.000
Resistance levels:$4.900 and $7.000
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.