NEAR Protocol Surges Ahead: Is it the Market Leader in the Crypto Industry?
NEAR Protocol (NEAR) Gains Momentum Amid Bull Run, Analysts Predict Massive Surge
As the crypto industry experiences a surge in prices, NEAR Protocol (NEAR) is making waves with new partnerships and developments, leading analysts to believe that a massive surge is on the horizon for the token.
Crypto analyst World of Charts recently identified a bullish flag pattern on NEAR’s monthly chart, predicting a potential 60-65% bullish wave in the coming days if a successful breakout occurs. NEAR tested the $7.00 resistance level earlier in the week, reaching above $7.50 before retracing slightly.
Affirming the bullish forecast, another analyst known as Bluntz stated that if NEAR can maintain its breakout level, investors could see the price rise to $14-$15. The token has since remained above $7.00, fluctuating between $7.3-$7.1.
Bluntz also noted that NEAR has been one of the strongest performers in the top 20 cryptocurrencies, with the potential to make fresh highs. The analyst highlighted an ABC zigzag pattern followed by an impulse wave pattern in NEAR’s price movements.
NEAR’s recent breakout above the $7.00 resistance level has solidified its position as a market leader, according to Bluntz. The token has continued to make gains while other cryptocurrencies have stalled out.
In addition to its price surge, NEAR Protocol has been expanding its network and forming strategic partnerships. The blockchain, known for its user-friendly and carbon-neutral approach, has seen its total value locked (TVL) double since Q4 2023, now ranking as the 16th largest blockchain by TVL.
Recent collaborations with projects like NodeKit and TrueZK, as well as a partnership with Colombian fintech Lulo X and Peersyst Technology, have further boosted NEAR’s reputation in the crypto community.
Despite being down from its all-time high, NEAR has shown impressive performance during this bull run, with a 146% increase in the last three months. The token’s daily trading volume and market capitalization have also seen significant growth, solidifying its position as the 17th largest cryptocurrency by market capitalization.
At the time of writing, NEAR is trading at $7.2, marking a 7.3% increase in the last 24 hours and a 26% rise in the past week. Analysts and investors alike are keeping a close eye on NEAR as it continues to gain momentum in the crypto market.
