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    Home » NEAR Protocol is Predicted to Drop to $1.35 By May 23, 2023
    News

    NEAR Protocol is Predicted to Drop to $1.35 By May 23, 2023

    May 18, 20235 Mins Read
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    NEAR Protocol is Predicted to Drop to $1.35 By May 23, 2023
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    Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

    • NEAR Protocol is down -3.23{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} today against the US Dollar
    • NEAR Protocol is currently trading 21.03{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} above our prediction on May 23, 2023
    • NEAR Protocol dropped -29.97{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the last month and is down -72.80{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} since 1 year ago
    NEAR Protocol price $ 1.64
    NEAR Protocol prediction $ 1.35 (-17.38{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8})
    Sentiment Bearish
    Fear & Greed index 51 (Neutral)
    Key support levels $ 1.66, $ 1.61, $ 1.59
    Key resistance levels $ 1.73, $ 1.76, $ 1.80

    NEAR price is expected to drop by -17.38{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the next 5 days according to our NEAR Protocol price prediction

    is trading at $ 1.64 after losing -3.23{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.09{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the same time period. NEAR performed poorly against BTC today and recorded a -1.29{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} loss against the world’s largest cryptocurrency.

    According to our NEAR Protocol price prediction, NEAR is expected to reach a price of $ 1.35 by May 23, 2023. This would represent a -17.38{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} price decrease for NEAR in the next 5 days.

    NEAR Price Prediction Chart

    Buy/Sell NEAR Protocol

    What has been going on with NEAR Protocol in the last 30 days

    NEAR Protocol has been displaying a negative trend recently, as the coin lost -29.97{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the last 30-days. The medium-term trend for NEAR Protocol has been bearish, with NEAR dropping by -32.87{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the last 3 months. The long-term picture for NEAR Protocol has been negative, as NEAR is currently displaying a -72.80{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} 1-year price change. On this day last year, NEAR was trading at $ 6.03.

    NEAR Protocol reached its all-time high price on Jan 16, 2022, when the price of NEAR peaked at $ 20.42. The current NEAR cycle high is $ 2.82, while the cycle low is at $ 1.24. NEAR has been displaying low volatility recently – the 1-month volatility of the coin is at 9.74. NEAR Protocol recorded 14 green days in the last 30 days.

    NEAR Protocol technical analysis for today – May 18, 2023

    The sentiment in the NEAR Protocol markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 1.66, $ 1.61 and $ 1.59, while $ 1.73, $ 1.76 and $ 1.80 are the key resistance levels.

    Bearish sentiment for NEAR Protocol

    3 indicators are currently signaling a bullish prediction for NEAR Protocol, while 24 indicators are showing a bearish forecast. With 89{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} of indicators favoring a negative prediction. This results in an overall Bearish sentiment for NEAR Protocol.

    Crypto market is currently experiencing Neutral

    Currently, the Fear & Greed index is at 51 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

    NEAR Protocol moving averages & oscillators

    Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how NEAR Protocol is positioned in the market right now.

    Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential
    MA3 $ 1.67 (SELL) $ 1.70 (SELL) – –
    MA5 $ 1.67 (SELL) $ 1.68 (SELL) – –
    MA10 $ 1.65 (SELL) $ 1.68 (SELL) – –
    MA21 $ 1.76 (SELL) $ 1.74 (SELL) $ 2.04 (SELL) $ 2.10 (SELL)
    MA50 $ 1.93 (SELL) $ 1.87 (SELL) $ 2.83 (SELL) $ 3.26 (SELL)
    MA100 $ 2.05 (SELL) $ 1.99 (SELL) $ 6.00 (SELL) $ 4.54 (SELL)
    MA200 $ 2.00 (SELL) $ 2.43 (SELL) – –
    Period Value Action
    RSI (14) 42.03 NEUTRAL
    Stoch RSI (14) 37.78 NEUTRAL
    Stochastic Fast (14) 43.84 NEUTRAL
    Commodity Channel Index (20) -66.67 NEUTRAL
    Average Directional Index (14) 26.10 BUY
    Awesome Oscillator (5, 34) -0.23 NEUTRAL
    Momentum (10) -0.04 NEUTRAL
    MACD (12, 26) 0.00 NEUTRAL
    Williams Percent Range (14) -56.16 NEUTRAL
    Ultimate Oscillator (7, 14, 28) 56.67 NEUTRAL
    VWMA (10) 1.65 BUY
    Hull Moving Average (9) 1.67 BUY
    Ichimoku Cloud B/L (9, 26, 52, 26) 1.78 NEUTRAL

    The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for NEAR Protocol is at 42.03, suggesting that NEAR is currently neutral.

    The 50-day Simple Moving Average (SMA 50) takes into account the closing price of NEAR Protocol over the last 50 days. Currently, NEAR Protocol is trading above the SMA 50 trendline, which is a bullish signal.

    Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the NEAR closing price for the last 200 days. NEAR is now trading above the SMA 200, signaling that the market is currently bullish.

    The bottom line about this NEAR Protocol prediction

    After considering the above factors, we can conclude that the current forecast for NEAR Protocol price prediction is Bearish. NEAR would have to decrease by -17.38{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} to hit our $ 1.35 target within the next five days. Moving forward, it will be important to monitor the NEAR market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term NEAR Protocol price predictions click here.

    Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.



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