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NEAR’s 20.5% weekly losses mean THIS is next for altcoin’s price

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NEAR Protocol seemed to be heading south again, heading back towards the $3.85-support after failure to break the $5 resistance...

, at press time, was on a downtrend across the higher timeframes. On the charts, the bulls found refuge at the $3.85-level, which was the 78.6% Fibonacci retracement level based on the rally from $2.45 to $9 in February and March.

The price bounced from $3.85 the previous week, and the token rose to $5.25. Alas, it was unable to flip the level to support in the subsequent days. Over the past few days, the Open Interest behind NEAR Protocol has been falling alongside the price. This indicated a bearish sentiment in the Futures market.

 

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