Bitwise Enhances NEAR ETF Proposal with Staking Feature
- ETF Proposal Update: Bitwise has amended its NEAR ETF proposal for the second time in a revised S-1 registration statement submitted to the SEC, adding staking as a potential source of rewards, which has helped drive NEAR's price up nearly 12%.
- Exchange Listing Plans: The ETF is intended to list on NYSE Arca, with The Bank of New York Mellon serving as cash custodian, administrator, and transfer agent, while Coinbase Custody will safeguard the fund's digital assets, reflecting Bitwise's commitment to compliance and security.
- Positive Market Reaction: Following the ETF amendment, NEAR broke above a multi-week downtrend, rising to around $2.04 and surpassing the 61.8% Fibonacci retracement level, indicating that buyers are regaining control in the short term, potentially setting the stage for further gains.
- Improving Technicals: Analyst Michaël van de Poppe noted he increased his NEAR position around $1.82, viewing the recent weakness as an attractive accumulation opportunity, and if NEAR holds above €1.70 (approximately $2.00), it could rally towards €2.20-€2.30 (roughly $2.58-$2.70), strengthening the case for new highs.
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Technical Analysis for NEAR
Technical Sentiment Analysis for NEAR Protocol (NEAR). As of , NEAR Protocol (NEAR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 1 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for NEAR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, NEAR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
NEAR Protocol (NEAR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.302 | 1.513 | 1.695 | 1.906 | 2.088 | 2.299 | 2.481 |
| Fibonacci | 1.513 | 1.663 | 1.756 | 1.906 | 2.056 | 2.149 | 2.299 |
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