{"id":605313,"date":"2024-04-26T22:00:46","date_gmt":"2024-04-26T22:00:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=605313"},"modified":"2024-04-26T15:08:43","modified_gmt":"2024-04-26T15:08:43","slug":"near-protocol-soars-7-3-is-it-poised-to-go-higher","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/near-protocol-soars-7-3-is-it-poised-to-go-higher\/","title":{"rendered":"NEAR Protocol Soars 7.3%, Is It Poised To Go Higher?"},"content":{"rendered":"
As the crypto industry navigates the waves of this bull run, projects like NEAR Protocol (NEAR) are edging forward with new partnerships and developments. NEAR\u2019s remarkable performance has crypto analysts considering that the toke is getting underway for a massive surge.<\/p>\n
At the beginning of the week, crypto analyst World of Charts recognized a bullish flag pattern formed on NEAR\u2019s monthly chart. According to the analyst, a successful breakout<\/a> could be followed by a 60-65% bullish wave in the coming days.<\/p>\n On Thursday, NEAR tested the $7.00 resistance level, reaching above the $7.50 mark before retracing as the day ended.<\/p>\n <\/p>\n Affirming his previous forecast, the analyst stated that if the token successfully holds above the breakout level, investors could expect the price to move towards $14-$15. Since then, the token has remained above the $7.00 mark, hovering between $7.3-$7.1.<\/p>\n Another crypto analyst has been following NEAR\u2019s performance<\/a> this week similarly. According to Bluntz, the token \u201chas been one of the strongest movers from the lows and will probably\u00a0be one of the first to make fresh highs.\u201d<\/p>\n Moreover, he considers NEAR \u201cone of the better performers\u201d in the top 20 cryptocurrencies. Previously, the trader displayed a chart identifying an ABC zigzag pattern followed by a still-forming impulse wave pattern.<\/p>\n <\/p>\n As NEAR broke out of the $7,00 resistance, the analyst reaffirmed his prediction for the token\u2019s movements, considering it \u201ca market leader right now.\u201d<\/p>\n Bluntz added that the token kept \u201cplodding along making fresh highs while everything else has stalled out and continued accumulating.\u201d<\/p>\n The NEAR Protocol is a Layer-1 \u201cuser-friendly and carbon-neutral\u201d blockchain focused on performance, security, and scalability. According to its team, the \u201cblockchain for everyone\u201d was built with \u201cusability in mind.\u201d<\/p>\n NEAR\u2019s total value locked (TVL) of $309 million makes it the 16th largest blockchain by this metric. Notably, the network has doubled<\/a> its TVL since Q4 2023, when it sat in the 25th spot with $128 million.<\/p>\n The protocol collaborates with other projects constantly to continue \u201cexpanding financial horizons.\u201d Projects like NodeKit and TrueZK have recently integrated NEAR\u2019s solution designed for Ethereum rollups, NEAR DA.<\/p>\n Similarly, on Thursday, it announced\u00a0<\/a>its partnership with Colombian fintech Lulo X and Peersyst Technology \u201cto redefine the parameters of digital finance.\u201d These collaborations have been seemingly well-received by the NEAR community.<\/p>\n Despite being down by 6.25% in the monthly time frame and 65% below its all-time high<\/a> (ATH) of $20,44 set in January 2022, the blockchain\u2019s token has shown a remarkable performance during this bull run. In the last three months, NEAR has soared over 146%.<\/p>\n Moreover, the token\u2019s daily trading volume has increased by 6.5% in the past day, with over $800 million traded. Likewise, its market capitalization has risen 5% during the same timeframe, making it the 17th biggest cryptocurrency by this metric.<\/p>\n As of this writing, NEAR is trading at $7.2, representing a 7.3% jump in the last 24 hours and a 26% rise in the past week.<\/p>\n <\/p>\n As the crypto industry navigates the waves of this bull run, projects like NEAR Protocol (NEAR) are edging forward with new partnerships and developments. NEAR\u2019s remarkable performance has crypto analysts considering that the toke is getting underway for a massive surge. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Is NEAR Protocol A \u201cMarket Leader\u201d? At the beginning of the week, crypto analyst World of Charts recognized a bullish flag pattern formed on NEAR\u2019s monthly chart. According to the analyst, a successful breakout could be followed by a 60-65% bullish wave in the coming days. On Thursday, NEAR tested the $7.00 resistance level, reaching above the $7.50 mark before retracing as the day ended. NEAR breaking out of the bullish flag pattern on Thursday. Source: World of Charts Affirming his previous forecast, the analyst stated that if the token successfully holds above the breakout level, investors could expect the price to move towards $14-$15. Since then, the token has remained above the $7.00 mark, hovering between $7.3-$7.1. Another crypto analyst has been following NEAR\u2019s performance this week similarly. According to Bluntz, the token \u201chas been one of the strongest movers from the lows and will probably\u00a0be one of the first to make fresh highs.\u201d Moreover, he considers NEAR \u201cone of the better performers\u201d in the top 20 cryptocurrencies. Previously, the trader displayed a chart identifying an ABC zigzag pattern followed by a still-forming impulse wave pattern. NEAR’s forming a impulse wave pattern according to the analyst. Source: Bluntz As NEAR broke out of the $7,00 resistance, the analyst reaffirmed his prediction for the token\u2019s movements, considering it \u201ca market leader right now.\u201d Bluntz added that the token kept \u201cplodding along making fresh highs while everything else has stalled out and continued accumulating.\u201d Network Expansion And Price Surge The NEAR Protocol is a Layer-1 \u201cuser-friendly and carbon-neutral\u201d blockchain focused on performance, security, and scalability. According to its team, the \u201cblockchain for everyone\u201d was built with \u201cusability in mind.\u201d NEAR\u2019s total value locked (TVL) of $309 million makes it the 16th largest blockchain by this metric. Notably, the network has doubled its TVL since Q4 2023, when it sat in the 25th spot with $128 million. The protocol collaborates with other projects constantly to continue \u201cexpanding financial horizons.\u201d Projects like NodeKit and TrueZK have recently integrated NEAR\u2019s solution designed for Ethereum rollups, NEAR DA. Similarly, on Thursday, it announced\u00a0its partnership with Colombian fintech Lulo X and Peersyst Technology \u201cto redefine the parameters of digital finance.\u201d These collaborations have been seemingly well-received by the NEAR community. Despite being down by 6.25% in the monthly time frame and 65% below its all-time high (ATH) of $20,44 set in January 2022, the blockchain\u2019s token has shown a remarkable performance during this bull run. In the last three months, NEAR has soared over 146%. Moreover, the token\u2019s daily trading volume has increased by 6.5% in the past day, with over $800 million traded. Likewise, its market capitalization has risen 5% during the same timeframe, making it the 17th biggest cryptocurrency by this metric. As of this writing, NEAR is trading at $7.2, representing a 7.3% jump in the last 24 hours and a 26% rise in the past week. Related Reading: Crypto Bull Run Set To Return Next Week, Predicts Arthur Hayes NEAR’s performance in the one-week chart. Source: NEARUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":605322,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[89447,10923,85054,87639,86725,86783,92175,85055],"class_list":["post-605313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-analysts","tag-crypto-market","tag-near","tag-near-analysis","tag-near-price","tag-near-protocol","tag-near-tvl","tag-nearusdt"],"acf":[],"yoast_head":"\nNEAR breaking out of the bullish flag pattern on Thursday. Source: World of Charts<\/a><\/pre>\n
NEAR's forming a impulse wave pattern according to the analyst. Source: Bluntz<\/a><\/pre>\n
Network Expansion And Price Surge<\/h2>\n
NEAR's performance in the one-week chart. Source: NEARUSDT on TradingView<\/a><\/pre>\n