Current price: Approximately $1.70.
· Market capitalization: Exceeds $2.1 billion, placing it among the top 30 cryptocurrencies.
· Market sentiment: Analyses indicate bearish sentiment as the fear and greed index approaches 29 (the 'fear' phase).
· Key technical indicator: The Relative Strength Index (RSI) is at 38.45, indicating a neutral position, not oversold or overbought.
🔄 Latest developments and updates in the project
NEAR Protocol still maintains developmental activity and growth in its ecosystem:
· Technical development: The recent update (version 77) introduced improvements for speed and streamlined cross-chain functions. The number of shards in the network increased from 6 to 8, raising the network's capacity by 33%.
· Growth and activity: More than 8 million transactions are processed daily on the network at a record speed of 80 transactions per second, with the potential to reach 4,135 transactions per second during peak times. There are over 2,500 active developers in the ecosystem.
· Notable applications: Applications like HOT Game, Kai-Ching, and Sweat Economy currently lead a large part of the activity on NEAR.
📈 Top recommendations for traders
The tips below are based on current technical analysis and market data.
• Short-term technical analysis: All major moving averages of NEAR (from 50 to 200 days) show sell signals, indicating strong downward pressure in the short term. This means that the chances of a quick rebound may be limited at the moment.
• Major support and resistance levels: Based on the analysis, here are the levels to watch closely:
Support levels
· Direct support: $1.62
· Strong support: $1.56
· Critical support: $1.49
Resistance levels
· Initial resistance: $1.74
· Medium resistance: $1.82
· Strong resistance: $1.87
• Strategic recommendations for traders:
* Short-term speculators (scalping/day trading): The current environment is tough with selling dominance. It is preferable to wait for a clear breakout above one of the resistance levels or a successful test of one of the support levels before considering new buy trades.
* Medium-term traders (swing): The best strategy may be to wait and see. It is preferable to look for buying opportunities near strong support levels (like $1.56) once signs of price stabilization and the disappearance of selling pressure appear.
* Long-term investors: Current volatility can provide an opportunity for gradual accumulation in batches at lower levels, but with a necessary stop-loss to protect capital in case of continued decline.
⚠️ Important notice: All forecasts and recommendations provided here are for informational and educational purposes only and do not constitute financial or investment advice. Cryptocurrency markets are highly volatile, and trading decisions are your own responsibility. Always conduct your own research and consult a licensed financial advisor if necessary.
