Crash

Token

bullish

2024

Amid the recent volatility in the altcoin market, the Near Protocol shows a bearish reversal gaining momentum. With a bearish engulfing candle turning the tides, crucial supports are at risk.&nbsp;  
Will the bearish cycle in this altcoin result in a crash below $4 for an extended crash? Find out more about our NEAR price analysis.&nbsp;  
<h2 class="wp-block-heading" id="h-near-price-performance">NEAR Price Performance</h2>  
With a market cap of $5.57 billion, the Near Protocol token is trading at $4.59. In the past 24 hours, the NEAR token price has declined by 6.03%, resulting in a drop in 7-day growth to 1.70%.&nbsp;  
Currently, the bear cycle within the NEAR token price trend is testing a crucial support trend line. The support trend line completes a symmetrical triangle pattern in the daily chart.  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/10170850/isQs3xFW-1024x511.png" alt="" class="wp-image-363379">
</figure>  
<a href="https://www.tradingview.com/x/isQs3xFW/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>  
Furthermore, the bearish engulfing candle formed yesterday with a drop of 5.93% breaks below the 50-day EMA. However, the doji candle formation near the support trendline teases a potential comeback with a morning star pattern in the Near protocol.&nbsp;  
Technical indicator:  
RSI: The declining RSI line reveals a bearish divergence at play, increasing the chances of a downfall below the support trend line.&nbsp;  
EMA: Despite a bearish alignment, the 50D and 200D EMA teased a golden crossover. However, the recent crash limits the possibility of a golden crossover.&nbsp;  
<h2 class="wp-block-heading" id="h-will-the-near-token-price-drop-below-4">Will The NEAR Token Price Drop Below $4?</h2>  
Currently, the Near Protocol token price is trading below the 23.60% Fibonacci level and closing in on the 4.310 support zone. In case of a bearish breakdown, the crucial support levels for the NEAR token are present at the $4.00 psychological mark and $3.50 support level.&nbsp;  
On the upside, the bullish reversal will have to face off against the overhead trend line near the psychological mark of $5.00.  
Curious if a bullish reversal in NEAR token price will reclaim $10? Check out Coinpedia’s <a href="https://coinpedia.org/price-prediction/near-protocol-near-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">NEAR price prediction</a> from 2024 to 2025 to find the next reversal spot.

Near Protocol’s Crash Warns 23% Downside Risk To $3.52!

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