NEAR Protocol (NEAR) Price Could Experience Significant Downturn Soon
NEAR Price Trend Overview
With recent corrections in NEAR price, its transaction volume peaked on March 3 but has since declined. The RSI remains high but is showing signs of a downturn, coupled with the potential formation of a bearish signal known as a death cross.
Near Number of Transactions Is Falling
NEAR saw a sharp decline in daily transactions post-March 3 peak, correlating with a slowdown in price growth despite surges it experienced before.
RSI Is Still Showing an Overbought State
NEAR's RSI above 80 indicates potential overbuying, signaling a likely correction in the price as traders may start booking profits. An RSI of 78 currently suggests decreasing momentum in price increases.
NEAR Price Prediction: Is A Death Cross Imminent?
The proximity of short-term EMA lines to crossing long-term lines raises concerns about a potential bearish signal, known as a death cross, which could lead to a significant price decline if critical support levels are breached.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.