Ethereum, THORChain and NEAR Protocol Price Forecast: Mixed Trends in Today’s Market Watch

Key Insights

• Ethereum wavers at $1,799.7, down by 0.58% in 24 hours.
• Thorchain ascends 3.69%, trading at $3.03.
• NEAR Protocol surges 10.51% to $1.409.

Ethereum Price Prediction

Ethereum, the widely-tracked cryptocurrency, has recorded a modest dip of 0.58% over the past 24 hours, currently priced at $1,799.7. The asset holds a substantial position in market rankings with a robust market cap and supply metrics.

On a 4-hour chart perspective, Ethereum is grappling with a pivot point at $1,797. Resistance levels are stacked at $1,850, $1,887, and $1,921, while support appears at $1,763, followed by $1,724 and $1,677.

The RSI indicator is neutral at 51, indicating an evenly balanced market sentiment. Ethereum’s current trading price is slightly above the 50 EMA, set at $1,776, hinting at a short-term bullish trend. However, the observed symmetrical triangle pattern reflects a state of indecision among investors, with a breakout awaited to determine a clear direction.

In summary, Ethereum’s trend appears bearish below the $1,800 threshold. In the short term, the market could witness a test of the resistance at $1,850, contingent upon a decisive breakout from the prevailing chart pattern.

THORChain Price Prediction

Thorchain’s current trading price stands at $3.03, reflecting a 3.69% ascent within the last 24 hours. The asset ranks commendably in market cap, with a notable supply data backing its valuation. The 4-hour chart timeframe reveals an intriguing picture: immediate resistance is encountered at $3.06, with subsequent barriers at $3.27 and $3.54. Conversely, support levels are firmly entrenched at $2.38, $2.13, and $1.80.

The RSI indicator, soaring at 83, signals an overbought scenario, traditionally a precursor to a potential pullback. However, the asset’s current position above the 50 EMA, valued at $2.51, leans towards a short-term bullish trend. An upward channel pattern has been discerned, further corroborated by the three white soldiers pattern, both suggestive of a buying trend.

In conclusion, Thorchain exhibits a bullish trend above the pivotal $2.85 mark. In the short term, market participants may anticipate the asset to challenge the immediate resistance at $3.06, with potential to explore higher thresholds in the upcoming days.

NEAR Protocol Price Prediction

NEAR Protocol shows a notable uptrend, surging 10.51% in the last 24 hours to $1.409, reflecting a bullish sentiment in its market positioning. The 4-hour chart reveals a pivot point at $1.2500, with immediate resistance looming at $1.4190. Subsequent resistances are seen at $1.5510 and $1.6610, while supports are found at $1.1580, $1.0600, and $0.9650.

The RSI, significantly elevated at 85, signals overbought conditions, cautioning investors of potential reversals. Moreover, NEAR trades above the 50 EMA at $1.1440, reinforcing the bullish bias. A confirmed downward wedge breakout suggests continued buying interest.

Conclusively, NEAR exhibits a bullish trend above $1.2500. In the short term, a test of the resistance at $1.4190 is anticipated, contingent on sustained momentum.

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