NEAR Technical Analysis: Triangle Turning Bearish Teases 10% Fall

The NEAR coin price rests at the 200-day EMA within the symmetrical triangle following the 15% fall last week. Will the downfall break the EMA support? Key technical points: NEAR price approaches the $10 mark. The MACD indicator warns of a bearish crossover. The 24-hour trading volume of Near Protocol is $496 Million, marking a 25% rise. Past Performance of NEAR NEAR coin price forms a symmetrical triangle pattern after the downfall observed in the early days of 2022. The recent rejection from the resistance trendline due to the double top formation knocks down the price at the 200-day EMA. The altcoin trades below the 50% Fibonacci Retracement Level, but the retracement to 61.80% depends upon the breakout direction. Source-Tradingview NEAR Technical Analysis NEAR coin price action shows a relatively more potent resistance trendline than the newer support trendline in terms of the number of reversal hits. Hence, the fallout possibility seems more prominent. The downsloping EMAs (50, 100, and 200) indicate a bearish bias in the price trend and the trading activities due to the 50 and 100-day EMA bearish crossover. Moreover, the integrity of the 200-day EMA is on the verge of being compromised. RSI Indicator: Despite the bearish tinge in the sideways price trend, the RSI slope retains the 50% mark, with the 14-day SMA upholding the uptrend. MACD Indicator: The bullish histograms project an upcoming end as the MACD and signal lin...