• The level of friction resistance has been increased by 4.6 dollars under the Close Range Agreement

• This token is one of the largest rising currencies among the original 100 digital currencies

• RSI reading is in the overbought area

Near agreement Near/USD has increased by 16% in the past 24 hours. The rising mentality is due to investors' strong interest in the agreement recently. On the previous day, its turnover increased by 47% to US $681243479.

Near Protocol is a blockchain smart contract Internet that competes with the ether currency market. It is unusual to apply sharding technology to improve transaction management freight volume. Sharing can split up network facilities and let connection points solve a small part of them.

The buying and selling speed has always been a key test for large and medium-sized blockchain networks. Close range agreements are emerging in space. It has attracted blockchain projects with considerable profits, thereby increasing the total amount of locks.

One such project is Sweatcoin, which is an agreement to forge tokens according to the process adopted by customers. The investment of assets into this project has made the TVL of NEAR agreement reach 388 million dollars. From the perspective of technical market in the short term, there is no doubt that the strong upward momentum of the Near Protocol has been achieved.

NEAR improves important friction resistance, but it is overbought at present

From: TradeView

From the above 4h technical data chart, NEAR has already reached the friction resistance of 4.6 dollars. Digital currency has failed in the past four attempts to raise this level. In addition, the 20 and 50 day moving average system also joined the support point.

However, NEAR is likely to be laying the foundation for adjustment in the short term. RSI is in an overbought area. The momentum indicator value was 72, the highest since July 29.

Summarise

NEAR token showed a strong upward momentum. The principle of sharding technology and the fast and cheap buying and selling speed have promoted the public's warm welcome. Even so, the token will face adjustment, and the RSI reading is currently in an overbought area. Investors should wait for adjustment before entering long positions.