NEAR Protocol is the product of the intelligence of Alex Skidanov and Illia Polosukhin, two experienced programming names. NEAR can be traded with stablecoins and cryptocurrencies currently in use. The coin is listed on an increasing number of exchanges. The network built on the NEAR Protocol runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to provide scalability and flat fee options.

NEAR Protocol (NEAR) fell sharply from the firm overhead resistance at $20 3 days ago and bears defended the overhead resistance aggressively.

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The NEAR/USDT pair could drop to the 20-day EMA ($15), which could act as a strong support. If the price bounces back from this level, it will indicate that the bulls continue to buy on the dips. The bulls will then make an attempt to push the pair to its all-time high. The ascending 20-day EMA and the RSI in the positive zone are giving the buyers an edge. Contrary to this assumption, if the price drops below the 20-day EMA, it means that traders can aggressively book profits. This could open the doors for a possible drop to the 50-day SMA ($12).

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The 4-hour chart shows the price repeatedly bouncing just below the 50-SMA. This indicates that buyers continue to accumulate on dips. If the price rises from the current level and rises above the 20-EMA, the bulls will try to push the price back to $20. Conversely, if the price declines and stays below $16, short-term traders can rush to the exit. This could push the pair to $14.50. If this level cracks, it indicates the bears are back in the driver's seat.

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As of writing the news, NEAR Protocol price is $1.24 and NEAR's 24-hour trading volume is $5,382,716, according to CoinMarketCap data.