The Near Protocol (NEAR) price has increased by 65% in the past four days. The upward movement led to a 440-day high of $3.44 today.

NEAR has increased by 80% so far in December. Will it maintain its momentum until the end of the month?

NEAR Ascent Reaches New Heights

The weekly time frame technical analysis shows that the NEAR price broke out from a descending resistance trend line in November. Before the breakout, the trend line had been in place for 540 days.

While the increase was initially slow, NEAR accelerated this week, creating a large bullish candlestick. Since then, the altcoin has increased by 55% and moved above a long-term horizontal resistance area.

With the RSI as a momentum indicator, traders can determine whether a market is overbought or oversold and decide whether to accumulate or sell an asset.

Bulls have an advantage if the RSI reading is above 50 and the trend is upward, but if the read

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Author: Valdrin Tahiri

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