NEAR Technical Analysis: Sellers at $12 Stamp Out Bullish Resurgence

NEAR coin price fails to rise above $12, leading to a long-wick bearish candle touching the 50-day EMA. Will the reversal reach $10? Key technical points: NEAR coin price takes support at 50-day EMA. The Stochastic RSI gives an untimely bullish crossover. The 24-hour trading volume in the Near protocol is $1.13 Billion, marking a 152% rise. Past Performance of NEAR NEAR coin prices display yet another failure to rise above the $12 resistance level and possibly generate a new resistance trendline in action. Further rejections from this trendline will increase its credibility. The falling prices support the 50-day EMA as the sellers undermine the 20% growth from the 200-day EMA. Source-Tradingview NEAR Technical Analysis NEAR coin prices form a bullish engulfing candlestick, but the higher price rejection led to a bearish candle sabotaging overnight recovery. However, a reversal from the 50-day EMA and a closing above $12 will put the uptrend back on track. The crucial daily EMAs maintain a sideways trend as the 50-day EMA carries a psychological barrier for the bears. However, the breakout of the 50-day EMA will result in a price decline to the 200-day EMA. RSI Indicator: The RSI slope shows a rejection from the 60% mark that remains a crucial horizontal level. However, the RSI slope maintains the uptrend, with the 14-day average rising to reach the 50% mark. Stochastic RSI Indicator: The falling K and D lines after the crossov...