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The cryptocurrency market has been performing modestly over the previous 24 hours, with most cash buying and selling throughout the inexperienced zone.
The cryptocurrency market is recovering from the slumps it skilled earlier this week. The broader market has added lower than 1% to its worth, with the overall market cap nonetheless above the $1 trillion mark.
Bitcoin continues to commerce across the $23k resistance degree regardless of dropping lower than 1% of its worth within the final 24 hours. Ether is additionally buying and selling across the $1,600 degree and is additionally down by lower than 1% today.
However, NEAR, the native token of the Near blockchain, is the very best performer amongst the highest 30 cryptocurrencies by market cap. NEAR has added greater than 8% to its worth within the final 24 hours.
The rally comes as the NEAR CON occasion continues. The NEAR Conference is presently happening in Lisbon and showcases among the finest initiatives within the Near ecosystem.
Key ranges to observe
The NEAR/USDT 4-hour chart has turned bullish as NEAR has been performing properly over the previous few days. The technical indicators present that NEAR may rally greater over the approaching hours or days.
The MACD line crossed into the optimistic zone a couple of hours, indicating that NEAR is presently within the bullish zone.
The 14-day relative power index of 61 exhibits that NEAR may enter the overbought area if the momentum continues.
At press time, NEAR is buying and selling at $4.567. If the optimistic momentum is maintained, NEAR may rally previous the primary main resistance degree at $4.831 earlier than the top of the day.
However, it will want the help of the broader cryptocurrency market to commerce above the $5 resistance degree for the primary time in months.
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