NEAR Protocol saw a significant price increase, but conflicting technical indicators suggest a potential downturn.
has emerged as one of the market’s top gainers, surging by 10.42%. This marked its first double-digit gain following a month-long decline of 25.79%. Despite the recent upward momentum, a broader perspective reveals potential obstacles that could hinder further growth. If these barriers hold, NEAR might face a drop into lower price regions.According to DeFiLlama, the Total Value Locked (TVL) on NEAR Protocol has maintained a steady range, oscillating between $259.85 million and $236.58 million.
TVL represents the total value of assets locked in a blockchain’s smart contracts, showing the level of user engagement across activities such as staking, lending, and liquidity provision. But the TVL doesn’t give much information as a standalone. To gain further insight into NEAR’s on-chain activity, AMBCrypto analyzed its fee data.As of this writing, NEAR recorded its lowest fee generation in the past eleven days, with $21,680 collected. This decline points to reduced user participation, which could negatively affect NEAR’s price performance and its ecosystem’s growth trajectory.Technical indicators for NEAR were conflicting, with the Moving Average Convergence Divergence (MACD) pointing to a bearish trend, while the Relative Strength Index (RSI) suggested increasing momentum. On the weekly chart, the MACD appeared close to forming a bearish Death Cross—a pattern that occurs when the MACD line (blue) crosses below the signal line (orange). This is typically accompanied by an increasing number of red histogram bars, which further confirm bearish sentiment. If this pattern solidifies, NEAR’s price may start trending downward.Despite this looming bearish signal, the RSI offered a more optimistic view. It has recently returned to the positive region, with a press time reading of 50.13, indicating mild bullish momentum. However, the RSI’s position near the neutral line (50) still suggests uncertaint
NEAR Protocol Cryptocurrency Price Analysis Technical Indicators Market Outlook
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