NEAR/USD quotes are trading at 8.42 and continue to move as part of the fall and left the bullish channel. The moving averages indicate a short-term bearish trend for the NEAR Protocol. Prices have gone down from the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop a bullish correction in the value of the digital asset and a test of the resistance level near the 10.55 area. Where can we expect a rebound and a continuation of the fall in the NEAR Protocol rate again with a potential target below the level of 2.65.
NEAR Protocol Weekly Forecast February 28 — March 4, 2022
In favor of reducing NEAR/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel, which was broken down. Cancellation of the option to reduce the coin will be a strong increase in the value of the asset and a breakdown of the area of 14.75. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 19.25. With the breakdown of the support area and the closing of quotes below the level of 6.00, we should expect confirmation of the development of a downward impulse on the NEAR Protocol, as we can see, this area has been a strong support level for a long time, sellers cannot break it down.
NEAR Protocol Weekly Forecast February 28 — March 4, 2022 suggests an attempt to correct and test the resistance area near the level of 10.55. Where can we expect a rebound and a continuation of the fall of NEAR/USD to the area below the level of 2.65. An additional signal in favor of the decline of the NEAR Protocol coin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 14.75 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 19.25.
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