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Nearcoin

NEAR (NEAR Protocol) Coin Analysis 01/04/2021as we had Analyzed this coin Earlier and Capitalized on it, we are Updating it and taking new Positions... Fundamentals: NEAR Protocol is a decentralized application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees. NEAR is the native utility token that is used for: Fees for processing transactions and storing data. Running validator nodes on the network via staking NEAR tokens. Used for governance votes to determine how network resources are allocated. NEAR tools include: NEAR SDKs which includes standard data structures and testing tools for Rust and AssemblyScript. Gitpod for NEAR to create a zero time onboarding experience for developers. NEAR Wallet that lets application developers create streamlined user experiences. NEAR Explorer to aid with both debugging of contracts and the understanding of network performance. NEAR Command Line Tools to allow developers to deploy applications from local environments. NEAR Protocol launched its mainnet on April 22, 2020 with 1 billion NEAR tokens created at genesis. 5% of additional supply is issued each year to support the network as epoch rewards, of which 90% goes to validators (4.5% total) and 10% to the protocol treasury (0.5% total). 30% of transaction fees are paid out as rebates to contracts which interact with a transaction, while the remaining 70% are burned. NEAR Protocol is the brainchild of developers Alex Skidanov and Illia Polosukhin, both of whom have extensive experience in programming. The two met while Skidanov worked at U.S. startup accelerator Y Combinator, and in July 2018 began work on a project which focused on allowing developers to build and release software with less friction. This project became what is now the NEAR Protocol, and employs more than 40 staff, including developers with experience at Google and MemSQL. According to NEAR Protocol’s official website, many of the developers hold prizes and nominations from competitions in coding and related fields, notably the International Collegiate Programming Contest (ICPC). Skidanov himself worked at both MemSQL and Microsoft, while Polosukhin contributed to end-to-end open source machine learning platform TensorFlow and Google Search. Technical Analysis: there exist a Hidden Bullish Divergence with MACD which is the sign of trend continuation and we can also see that the price has done its Accumulation followed by a n up move and currently retracing and correcting it self where the reaccumulation is going on and we can see it has shown the Hidden bullish Divergence with MACD along the process. there total of 3 Targets defined by the Fibonacci Projection where as the 3 TP gets its confirmation as the Price Triggers the 2 TP followed by some Price correction
Long
by BitonGroup
22
NEAR - Outlook ✅Let's see how NEAR is behaving. This is a 1D chart. The Fib retracement shows that the price is going to the higher levels, approaching retest the resistance and ATH areas. The market is showing STRONG BUY volumes for NEAR. Two support areas are holding the price up in case of sudden crashes. And two resistance levels are pushing down on value (one of which is the ATH level.) NEAR has become overbought six times in the past few months. The RSI shows that NEAR is above the 50 levels, the center. Given that we're looking at a 1D chart, we might conclude that near might retest ATH once more. Now is it a good time to enter and buy this coin? I would have waited for a clean and confirmed breakout. But hey, it's just me. But if you want to wait for the breakout, you should wait until we break the ATH level, and then after closing a 1D candle above that area and turning our resistance into solid support, that's when you can enter. But this time is a good window if you think it is not a FOMO to get into it now and want short-term profits. If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings: Current Market Price: $11.114 Let me know your ideas. Good luck.
by ShawnMCR
7