NEAR Price Update for November 2

Crypto News- NEAR’s value has seen a notable uptick, surging by 8.44% within just one day.

NEAR Price Update for November 2

Despite today’s rise, the rate of NEAR is looking bearish on the local chart. The price has set a support level of $1.434.

However, despite the recent upward movement, when scrutinizing the local chart, the NEAR rate appears to be displaying a bearish trend. It’s important to note that the price has established a significant support level at $1.434. This support level serves as a key indicator for traders and investors, signifying a price point at which NEAR has shown resilience in the face of downward pressure, and it’s expected to be a crucial level to watch in the near term. As the cryptocurrency market can be highly volatile, it’s essential to stay updated and monitor price movements carefully.

If the decline persists and reaches that level by the end of the day, traders will probably witness a test of the $1.40 zone in the coming day.

Examining the daily chart, it’s evident that NEAR’s rate has experienced a false breakout from the peak of yesterday’s candle. If today’s closing price significantly diverges from the $1.5 range, it might empower the bears to take control locally. This, in turn, could trigger a descent towards the $1.3 to $1.4 range shortly. Monitoring these price movements and chart patterns is crucial for making informed trading decisions in the cryptocurrency market, given its inherent volatility.