As a seasoned researcher with years of experience in the cryptocurrency market under my belt, I can confidently say that the recent surge in NEAR Protocol’s price is nothing short of impressive. Having witnessed countless market fluctuations and trends, this current upward trajectory of NEAR stands out as a beacon of potential gains.
The value of NEAR Protocol (NEAR) has surged noticeably due to favorable market trends. At the moment, NEAR is heading upwards, making it one of the day’s top gainers. Given its strong performance, there’s a likelihood that this cryptocurrency could see even more growth in the future.
NEAR Protocol Price Poised for More Gains
The cost of NEAR Protocol coins is climbing steeply as the artificial intelligence-focused cryptocurrency industry hits a staggering $2.22 trillion market value. At the forefront of this surge, the NEAR token has experienced a 31% jump in price over the last seven days, hinting at more growth potential.
As the broader market indicators suggest a revival, NEAR Protocol’s development is consistently reaching new heights, making it a strong contender in the rapidly growing AI-focused token sector.
Over the past 24 hours, the NEAR price has experienced significant growth, now hovering above $5.11. The NEAR Protocol saw a sharp increase of 15%. Starting the day at $4.42, it reached a high of $5.22 before settling slightly lower. This surge in price comes amidst a fluctuating market, with NEAR showing strong resilience and upward momentum.
Bullish Signals Suggest NEAR Could Hit $10
In the past few trading sessions, the technical analysis of NEAR‘s daily price on Binance indicates a significant upward trend. This bullish movement is supported by the Moving Average Convergence Divergence (MACD) histogram, which is growing more green bars, implying an increase in buying pressure.
As an analyst, I’ve noticed a significant development in the Near (NEAR) market: The Moving Average Convergence Divergence (MACD) line has breached above its Signal Line, signifying a confirmed uptrend. This crossover and subsequent surge suggest that NEAR’s price may maintain its strength moving forward.
As per information from Coinglass, it’s clear that the derivatives market for the NEAR Protocol has seen a substantial expansion. The trading volume has skyrocketed by approximately 198% to an astounding $1.03 billion.
The open interest in these derivatives has also seen a substantial increase of 41.91%, amounting to $262.50 million. These metrics indicate a growing interest and increased activity in NEAR Protocol’s derivatives products.
Furthermore, the recent breakout above the consolidation phase indicates a potential prolongation of the upward trend as long as the present momentum remains strong.
If optimism continues to grow, it’s possible that the leading altcoin might reach the $6 mark. Additionally, there’s a chance for further gains that might push past the current resistance at $10 in the upcoming period.
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2024-09-23 21:41