Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

• Buyers could have little leverage if NEAR reclaims $1.155.
• Futures market players were bullish on the altcoin at press time. 

Near Protocol [NEAR] saw a positive price performance following a partnership with the International Cricket Council (ICC) on 27 September. The partnership involved building a Web3 fan engagement platform for the 2023 Cricket World Cup.

How much are 1,10,100 NEARs worth today? 

Since the development, NEAR has been up 7% and traded at $1.13 at press time. Meanwhile, Bitcoin [BTC] retested $27k but struggled to stay above it.

Can NEAR clear these hurdles?

The partnership led to a rebound near the trendline support around $1.05. But the overall price action in Q3 chalked a descending wedge pattern, as the white trendlines show. Although the formation is typically a price reversal pattern to the upside, NEAR faces two crucial hurdles. 

The first roadblock is the confluence of the 50-EMA (Exponential Moving Average) and the trendline resistance near $1.16. The next hurdle exists at the weekly order block and r

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Author: Benjamin Njiri

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