- The NEAR crypto price has lost more than 85% from its all-time high price.
- As per Coincodex, the sentiment of the Near Protocol crypto is bullish.
NEAR is a decentralized platform for building and running applications that handle high-stakes data. It was created by three developers and uses the NEAR token as its currency. NEAR offers community-operated cloud infrastructure, censorship-resistance, and scalability.
The market cap dominance of Near Protocol is 0.18% followed by a market cap of $3.088 Billion. Also, it is the world’s 29th largest cryptocurrency with a 24-hour traded volume of $149.375 Million which has declined by 4.7% in the last 24 hours.
Near Protocol has witnessed a higher long liquidation of $214.80K and the long/short ratio of the crypto is 1.0092. Also, the volume/market cap ratio of the crypto is 4.85% and the derivatives trading volume of the crypto is worth $236.43 Million.
The supply inflation of the crypto is 24.46% which is considered high and the market cap dominance of the crypto is 0.17%. The volatility of the crypto is also high which might lead to uncertain movements in the crypto price.
The stablecoins market cap of the crypto is $87.79 Million and the fees for the crypto recorded in the last 24 hours are worth $12,036K.
Near Protocol Token Overview
The number of holders for the Near Protocol token has slightly advanced resulting in 1.9K holders. Also, the circulating supply market cap of the crypto is $3.068 Billion followed by a fully diluted market cap of $1.40 Million.
The total supply of the crypto is 1.176 Billion NEAR and the circulating supply of the crypto is 1.033 Billion NEAR and the max supply of the crypto is undefined.
NEAR Crypto Technical Analysis
The price of the NEAR crypto has broken above a crucial resistance and is currently taking support at the breakout level. The following behavior of the crypto price led to the formation of a strong swing high.
Followed by the influx of buyers, if the price of the crypto further breaks above the last swing high with good volume, we might get to see further profits in the crypto price.
NEAR/USD Chart by TradingView
The crypto price is trading at the level of 20 and the 50-Day which overlap each other. The following behavior of the indicator and the price indicate volatility in the price. Further, larger EMAs like the 50 and the 200-Day EMAs are trading in a golden cross.
The MACD and the signal lines overlap and the histogram is bullish on the daily chart. Despite this, both the lines of the MACD are trading below the zero level.
The following behavior of the indicator again makes the price to be in no trading zone.
The RSI is trying to advance to higher levels from the lows and has broken above the 14-day SMA but has been unable to break above the 50-level.
Summary
NEAR is a crypto platform for high-stakes applications. The price of crypto has been in a downtrend since its peak, but recently broke above a resistance level. However, the technical indicators are not conclusive, and the price could still face volatility and reversal. The future of NEAR is uncertain.
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.