- NEAR crypto price has increased by 213% in the last one year.
- Near protocol has a high annual inflation rate.
NEAR is an open-source platform created by Illia Polosukhin, Alexander Skidanov, and Evgeny Kuzyakov. It facilitates the development of decentralized applications for managing high-stakes data like money and identity. NEAR combines decentralized database features with serverless computing, utilizing the NEAR token for network participation, governance, and rewards.
The derivatives trading volume of the Near Protocol crypto is trading flat, witnessing a slight decline of 2.94%. The spot volume for the crypto has also seen a drop of 5.6% over the last 24 hours.
The market cap of crypto has witnessed a slight decline of 1.2% in the last 24 hours, and the current market cap value of crypto is $7.335B. Moreover, the crypto market cap ranking is #20, according to CoinMarketCap.
The value of the spot traded volume for the crypto in the last 24 hours is $426.962M. Moreover, the sentiment of the Near Protocol Crypto is bullish, as per Coincodex, and the fear and greed index of the crypto shows extreme greed.
The current market cap dominance of the crypto is 0.28%, and the current volume/market cap ratio is 5.9%. The long/short ratio for the derivatives of the token in the last 24 hours is 0.944.
The long liquidation for the crypto is worth $410.07K against the short liquidation of just $107K. This shows that over the last 24 hours, the sellers are dominating the crypto price.
NEAR Protocol Token Supply Overview
The current circulating supply of the token is 1.06B NEAR, and the total crypto supply is 1.19B NEAR. Furthermore, the maximum crypto supply has not been disclosed. Also, the fully diluted market cap of the crypto is $8.18B, and the Onchain market cap of the crypto is $4.147M.
NEAR Crypto Technical Analysis
The price of the NEAR token has surged to a high of $9.0 in its most recent momentum. The cost of the crypto further forms a higher swing on the chart.
NEAR token price is currently consolidating inside a zone and accumulating the price; if it further breaks below the level of $6.00, a further decline in the cost of the crypto might be seen. Despite this, if the crypto price breaks above the most recent swing high of $9.0, it might lead towards the all-time highs.
NEAR/USD Chart by TradingView
The NEAR crypto price trades in a golden cross of the 50-day and the 200-day EMA and is currently taking support at the 20-day EMA. Also, the deviation between the EMAs is high, representing a solid bullish trend.
The MACD metrics on the daily chart trading are above the zero level, which indicates an uptrend in the crypto price. Despite this, the MACD and the signal line are trading in a bearish cross, representing a retracement in the cost of the crypto.
The RSI is declining below the 14-day SMA and is currently taking support at the 50-level. If the RSI further breaks above the 14-day SMA, a continuation of the uptrend might be seen as the momentum of the crypto is bullish.
Summary
Despite recent trading volume and market cap declines, NEAR crypto has witnessed a significant surge, forming higher highs and consolidating near $9.00. Trading indicators suggest bullish momentum, including a golden cross and MACD uptrend. A break above $9.00 could signal further gains, potentially reaching all-time highs.
Technical Levels:
- Support levels: $2.70 and $4.70
- Resistance levels: $8.90 and $12.00
Disclaimer
This article is for informational purposes only and provides no 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.