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Technical Price Analysis of NEAR Protocol (NEAR) and Chainlink (LINK)

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Mar 9, 2022

It is time to look at two cryptocurrencies that have a very high potential of making it to the top-10 cryptocurrencies. These cryptocurrencies are NEAR Protocol (NEAR) and Chainlink (LINK). At present, NEAR Protocol is observing a slight dip while Chainlink is observing a rally.

However, their movements hold very high importance as millions of crypto-investors have their money invested in them. A technical analysis conducted for NEAR and LINK suggests what benchmarks these cryptocurrencies may hit in the near future.

NEAR Protocol is observing a 0.21% Price Dip

The technical analysis for NEAR Protocol suggests that its value has experienced a 0.21% dip in the past 24-hours. On March 2, the value of the NEAR Protocol observed a high figure ($11.52 per NEAR). At the moment, the value of NEAR Protocol is at a low figure ($9.71 per NEAR).

The data also shows that in the past 7-days, NEAR Protocol has experienced a 15.51% plummet, leading to the price currently being observed by NEAR Protocol.

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The general sentiments of the investors about the NEAR Protocol are negative at present. The summary scale shows that over 53% of the investors have negative sentiments about NEAR Protocol while 38% of investors are neutral. Only 7% of the total investors are willing to buy NEAR Protocol.

This clearly shows that the investors have a negative orientation about NEAR Protocol and they would rather sell it if the value of NEAR Protocol were to rise. The RSI for NEAR Protocol is currently at 44.925, which is also indicating a negative trend in near future.

If the bears continue leading the market, then the price of NEAR Protocol may get pushed down to $9.11 per NEAR. If the selling power of the bears intensifies, then the value of NEAR Protocol may sink to $8.50 per NEAR. If the remaining 38% (neutral) investors move to the bearish side, then the price of NEAR Protocol may plummet to $7.84 per NEAR.

Chainlink is observing a 3.47% Price Rise

At the moment, the trading value of the LINK/USDT pair in the crypto-market is worth $13.12 per LINK. Almost 24-hours back, the price of the same pair was at a low price of $12.52 per LINK. However, a 3.47% rally observed in the past 24-hours has helped push Chainlink to its current value.

The bulls are currently pouring in a lot of money in order to bring Chainlink back to its glory. The recent input of the buyers has increased Chainlink’s trading volume by 19.15%.

As for the technical analysis, they are pointing towards a negative trend, as the RSI is at 39.21, while the moving averages are also bearish.

This means that the value of Chainlink may continue plummeting. In the upcoming days, the bears may grow more aggressive and end up pushing Chainlink to its third support mark ($7.16 per LINK).

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