NEAR Coin Price Prediction 2023: Can NEAR Coin Fall Upto $1 Mark?

• 1 The NEAR Protocol coin’s price increased by 0.67% over the last 24 hours.
• 2 The price of NEAR coin is trading at $1.345 and the 52-week range is $1.160 – $2.400.

NEAR Protocol (NEAR) has a fully diluted valuation (FDV) of $1,345,258,451. This is a hypothetical market cap, assuming all 1 Billion NEAR tokens are circulating today. This is according to the crypto data and information website Coingecko. However, the actual FDV may take years to reach, depending on how the NEAR tokens are distributed over time.

As per Coinmarketcap, NEAR Protocol crypto plummeted by 0.59% in market value and surged by 0.64% in trading volume in the last 24 hours. Its market value is $1,269,750,777 and its trading volume is $43,221,658. There are 941,671,517 NEAR in circulation.

NEAR Protocol coin’s (NEAR) open interest is $45.89 Million. As per Coinglass, another crypto analysis website, it rose by 1.13% in the previous session. The long versus short ratio for 24 hours is 1.0044. The total number of short positions added in the last 24 hours is $6.67 K against longs of $104.58 K.

NEAR Coin Price Technical Analysis in the 1-Day Timeframe

NEAR coin price showed a downward trend for the past three months, decreasing by 17.10% during this period. At the time of publication, the NEAR Coin price is trading at $1.350, and the price is facing resistance and declining by making lower lows and highs.

Therefore, the NEAR coin price could continue to move downwards and reach the first and second targets of $1.290 and $1.159. If it fails to maintain the current level. However, if the NEAR Coin price sustains the current level and rises, then it might hit the nearest resistance levels of $1.637 and $1.896.

Source: NEAR/USD.1D.BITSTAMP by TradingView

At the time of publishing, the NEAR coin price (BITSTAMP: NEAR) is trading below the 20, 50, 100, and 200-day EMAs (exponential moving averages), which are rejecting the NEAR Coin price trend. Hence, NEAR Coin price prediction estimates the prices to move downwards, indicating a bearish outlook over the daily time frame chart for its price.

Source: NEAR/USD.1D.BITSTAMP by TradingView

The MACD line at 0.018 and the signal line at 0.011 is below the zero line and both lines crossed each other a bearish crossover is observed in the MACD oscillator, suggesting bearish signals. The current value of RSI is 44.68 points and the 14-day SMA is below the median line at 46.09 points, which indicates a downward direction and bearish sentiments in the market for the NEAR coin.

Conclusion

NEAR coin price prediction highlights the bearish sentiments and perspectives of investors and traders regarding the NEAR coin in the daily time frame. NEAR Protocol price action highlights a bearish view at the time of publishing. Moreover, the technical parameters of the NEAR Protocol price suggest the continuation of the downtrend over the daily time frame chart. Major trustworthy indicators MACD, RSI, and EMA, provide negative signals regarding the NEAR coin price.

Technical Levels:

• Support levels: The nearest support levels are $1.290 and $1.1596.
• Resistance levels: The nearest resistance levels are $1.637 and $1.896.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.