

AI tokens are on a downhill path as the crypto market's bearish phase progresses. The situation worsened when the Department of Justice ordered a subpoena
The price of NEAR has shown resilience despite the bearish trend in the crypto market, with the token holding up better than other AI tokens. This is evident in the technical analysis of NEAR, which shows a falling channel pattern with bullish divergence in the RSI line.
However, on a broader scale, the NEAR token has seen a concerning decline in unique accounts despite maintaining a strong daily transaction rate. This could indicate a lack of interest in new accounts joining the NEAR protocol.
Key Highlights
The NEAR token price shows a falling channel pattern on the daily chart.
Despite the downtrend, the RSI line showcases bullish divergence.
Crucial EMAs maintain a declining trend, displaying the bearish continuation.
Unique accounts on the NEAR protocol have dropped significantly.
Despite the bear market, daily transactions continue to grow, showing resilience in the network activity.
NEAR Token Analysis
In the daily chart, the NEAR token showcases a falling channel pattern, which is a technical formation that occurs when the price makes lower highs and lower lows within two parallel descending trendlines. In this case, the channel spans from a high of $8.28 to the current market price of $3.73.
The lower trendline of the channel acts as support, while the upper trendline serves as resistance. The token price has encountered resistance at the upper trendline multiple times, leading to bearish continuation.
Moreover, zooming into the price action reveals a five-wave downtrend structure, which is part of a larger bear cycle. In this downtrend, the NEAR token has experienced a 25% drop and registers nine out of ten bearish candles.
Currently, the AI token is trading at $3.73 with a long-tail rejection before hitting the pivotal $3.49 level. This lower price rejection at a crucial support level showcases a potential bullish pin bar candle formation, which could lead to an intraday bullish candle.
Furthermore, crucial EMAs in the daily chart maintain a declining trend. This bearish continuation is highlighted by the death cross between the 50 and 200-day EMAs.
Crucially, the 50-day EMA is at $5.26, while the 200-day EMA is at $4.28. These moving averages act as resistance levels for the NEAR token price.
However, on bullish support, the RSI indicator showcases a bullish divergence in the RSI line. This divergence is a technical indicator that signals a possible trend reversal.
In this case, the RSI line is forming higher lows while the price makes lower lows, indicating a divergence in momentum. This divergence is typically bullish and projects a high likelihood of another positive cycle to challenge the overhead resistances.
Unique Accounts Drop, Daily Transaction Maintains Strength
In other news, as the NEAR bear market continues, data from Near Blocks, a Near Protocol blockchain explorer, reveals a significant decline in the number of unique accounts on the NEAR protocol.
The number has dropped dramatically from 2.25 million unique accounts in April to around 700,000 currently. These accounts are typically new users interacting with the blockchain for the first time.
While the number of unique accounts has experienced dips throughout the year, these were typically followed by quick recoveries. However, over the past three weeks, the trend has not rebounded, highlighting a concerning lack of new unique accounts.
On a positive note, year-to-date transaction growth has shown improvement. Starting the year with 3.991 million total transactions on January 1 and 1.169 million new addresses, the latest data indicates 7.459 million total transactions, with 712,000 new accounts maintaining a steady flow.
The above is the detailed content of NEAR Protocol (NEAR) Price Prediction 2023-24: Will NEAR Rise Again After the Recent Drop?. For more information, please follow other related articles on the PHP Chinese website!

The Near Protocol token's Total Value Locked witnessed a decline recently. At press time, it was valued at $226.33M. It also raised a total of $33.7M, as per DefiLlama.

NEAR Protocol is a decentralized platform for application development. The platform was created to facilitate the development and usage of decentralized applications (dApps) and is built on blockchain technology.

Near Protocol's (NEAR) X account was recently renamed to "it's all a lie," and traders are still questioning whether this was a marketing ploy or a real hack.

The feature was introduced in testnet in March, and allows users with a NEAR account to sign transactions on blockchains it supports, without the need for cross-chain bridges.

NEARProtocol:可扩展、用户友好的区块链平台NEARProtocol是一个采用分片技术的区块链平台,旨在应对区块链技术在可扩展性、用户友好性和安全性方面面临的挑战。它为开发者提供了一个高效和用户友好的平台,使他们能够轻松构建和部署去中心化应用程序(dApps)。NEARProtocol的设计旨在降低区块链开发的门槛,同时提供高度的效率和安全性。通过采用分片技术,NEARProtocol可以更好地处理大规模交易,并且为用户提供更快速的交易确认时间。总的来说,NEARProtocol旨在为

As NEAR and SUI traders face turbulence due to recent market events, many are turning to DTX Exchange's promising $2.2 million presale as a potential lifeline.

查看NEARProtocol币市值NEARProtocol(NEAR)是一种去中心化的区块链平台,其设计旨在提升可扩展性、可用性和用户体验。关注NEAR币的市值能够让您更好地了解它在加密货币市场中的受欢迎程度和重要性。步骤:选择一个可靠的网站或平台,例如CoinMarketCap、CoinGecko或非小号。搜索NEAR或NEARProtocol。查看市值:NEAR币的市值通常会在搜索结果中显示。风险提示:加密货币市场波动频繁,投资需审慎考虑。在决定投资NEAR之前,务必进行充分的调查研究,并做

NEAR has continued to rally despite the market slipping by 2% today. According to CoinGecko, NEAR, the native token of the platform, achieved almost 23% gains

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

Safe Exam Browser
Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

Notepad++7.3.1
Easy-to-use and free code editor

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

Dreamweaver CS6
Visual web development tools

ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment
