The cryptocurrency market has witnessed a moderate uptick in the past day, with the majority of major coins experiencing slight price fluctuations. However, Near Protocol (NEAR) has emerged as a standout performer, recording a notable surge of over 17%.
Understanding Cryptocurrency Terminology
- Cryptocurrency: A digital or virtual currency that uses cryptography for security.
- Blockchain: A decentralized and secure record-keeping system that underlies cryptocurrencies.
- Resistance and Support Levels: Key price points that act as barriers or support points for a cryptocurrency’s price movement.
- Moving Average Convergence Divergence (MACD): A technical indicator used to analyze price momentum and potential trend reversals.
NEAR had been trading within a narrow range between $1.733 and $1.888 for some time before breaking out above the resistance level of $2.066. After facing some resistance at $2.365, it consolidated within a wider range before breaking out again and rising over 33% in just one week.
Currently, NEAR is approaching its next resistance level at $2.853. If the bulls can maintain the price above the support level of $2.714, it could set the stage for a test of $3 in the near future.
However, if the bulls lose momentum and the price falls below $2.714, NEAR could face further declines and test its support level of $2.365.
Frequently Asked Questions
-
What is Near Protocol?
Near Protocol is a decentralized platform designed for building fast and scalable decentralized applications.
-
Why is NEAR rising in price?
The recent surge in NEAR’s price could be attributed to a combination of positive market sentiment, favorable technical indicators, and the launch of new features and partnerships on the Near Protocol platform.
-
Where can I buy NEAR?
NEAR can be purchased on a variety of cryptocurrency exchanges, including Binance, FTX, and Coinbase.
Source: Near Protokol Fiyatından Yüzde 17 Fırtladı, 2.853 Dolarlık Dirence Doğru İlerliyor
Credit: BITboosters