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NEAR To Rise Even Higher According To These Analysts, Can It Hit $10?

Rubmar Garcia
Rubmar Garcia
1 year ago
3 mins read

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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NEAR, the native token of the Layer 1 (L1) public blockchain NEAR Protocol, has substantially risen during this bull run after registering remarkable gains since the end of 2023.

As the price of Bitcoin continues to soar, NEAR has recorded an over 130% price surge in the past month, and analysts forecast that the bullish momentum isn’t over yet.

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1 year ago

 Analyst Foresees NEAR’s Next Leg Up Coming Soon

At the end of 2023, the NEAR token showed a remarkable performance by doubling its price in mid-December. Since then, the crypto market has been propelled to heights like those seen during the last bull run.

NEAR continued its growth alongside the market, and crypto analyst Altcoin Sherpa considers that the gains for the token are far from over.

$NEAR: Consolidation for the next leg up soon IMO. #NEAR pic.twitter.com/pII6Uanwaz

— Altcoin Sherpa (@AltcoinSherpa) March 12, 2024

In an X (former Twitter) post, the analyst shared a chart showing NEAR’s performance in the last few days. This performance displays the token has oscillated between two levels since yesterday.

NEAR hovered between the $6.7- $7.17 price range for the past 24 hours, Altcoin Sherpa’s chart shows. As the analyst highlights, this is the “consolidation for the next leg up” coming soon.

Previously, Sherpa warned about the $6.9 price level being a “danger area approaching.” However, the token broke that resistance level over the weekend.

Moreover, crypto trader and analyst Rekt Capital shared a chart showing that NEAR revisited its multi-year macro downtrend. Breaking above it would further fuel the bullish momentum that could drive the price to revisit its all-time high (ATH) resistance area of $20.

$NEAR

Finally – Near Protocol has revisited its multi-year Macro Downtrend

Now #NEAR will try to break this to further build on its current bullish momentum

Breaking this Macro Downtrend would likely see price revisit the old All Time High resistance area

#BTC #NEARprotocol… https://t.co/VmcLjkWFPn pic.twitter.com/wboVljOJsc

— Rekt Capital (@rektcapital) March 11, 2024

Are $10 Coming Soon?

NEAR has been closely following Bitcoin’s price performance during the past week. As the chart below shows, in the last 24 hours, the token’s price has closely followed the trajectory of the flagship cryptocurrency.

BTC; BTCUSDT, NEAR

BTC and NEAR’s performance in the last 24 hours. Source: CoinGecko.com

At writing time, NEAR is trading at $7.3, a 4.2% surge in the past hour. The token registered a stellar 67.8% and 83.1% price surge in the weekly and bi-weekly timeframe.

Crypto trader Doctor Profit foresees NEAR to reach $10 soon, as his previous prediction of the token reaching this price by the end of the year seems closer than expected.

That the token’s price of $3 was easily doubled in a matter of days. This suggests to the analyst that NEAR’s next goal of $10 will come very soon.

As optimistic predictions continue, the token’s market cap of $7.74 billion shows a 7.7% growth in the last day. By this metric, NEAR is inside the top 20 largest cryptocurrencies, currently being the 19th, according to CoinMarketCap data.

However, the daily trading volume has dropped 20% in the last 24 hours, with $993.5 million traded. This hints at a recent decline in market activity despite the positive performance and community support.

Related Reading

Bitcoin

Bitcoin Price Resumes Rally As The Bulls Now Aim For $75K

1 year ago

NEAR, NEARUSDT

NEAR is trading at $7.39 in the hourly chart. Source: NEARUSDT on TradingView.com
Feature image from Unsplash.com, Chart from Tradingview.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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