FxWirePro- NEARUSD (Chart of the day)

NEAR is a user-friendly and carbon-neutral blockchain, built from the ground up to be performant, secure, and infinitely scalable. NEAR is a platform for running applications that have access to a shared — and secure — pool of money, identity, and data that is owned by their users.

Consensus mechanism- Thresholded Proof-of-Stake

Main features -

TPS- Upto 100000

Block time finality-Immediate

NEARUSD pared some of its gains after a 385% jump.

Any daily close above $4.65 confirms further bullishness.

NEARUSD lost more than 35% after hitting a multi-month high. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.2100 and is currently trading around $0.2070.

The bullish invalidation can happen if the pair closes below $2.35. On the lower side, the near-term support is $2.80. Any break below targets $2.35. Significant downtrend if it breaks $1.80.

The immediate resistance stands at around $4.65. Any breach above confirms bullish continuation. A jump to $5/$5.65 is possible. A surge past $6.20 will take it to $7/$8.

It is good to buy on dips around $2.80 with SL around $2.35 for TP of $4.60/$6.

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