NEAR Protocol (NEAR) is currently riding a robust uptrend, exhibiting remarkable growth in its value. Over the past month, NEAR has demonstrated exceptional performance, surging by an impressive 135%. This surge underscores the increasing investor confidence and interest in the project. Moreover, in the last week alone, NEAR has continued its bullish trajectory, with its price soaring by 72%
Renowned crypto analyst Rekt Capital has shed light on a pivotal shift within the trajectory of Near Protocol (NEAR), marking a significant revisit to a multi-year macro downtrend. This momentous occurrence not only underscores a critical juncture but also signifies a potential turning point for NEAR as it endeavours to break free from the constraints of its historical downtrend.
The implications of surpassing this macro downtrend barrier are profound, with the potential to catalyze a renewed surge in bullish momentum. Such a breakthrough would validate the project’s resilience and pave the way for NEAR to retrace its steps towards challenging the formidable resistance zone of its previous all-time high, heralding a new chapter of growth and expansion.
NEAR Short-term Price Forecast
At the time of writing, the price of NEAR Protocol stands at $7.33, accompanied by a notable 24-hour trading volume of $2.21 billion and a market capitalization of $7.65 billion. Over the past 24 hours, the NEAR price has experienced a significant uptick, rising by 8.06%.
According to the most recent price forecast from Changelly, Near Protocol is anticipated to experience a significant uptick, with its value projected to surge by 10.16% to reach $7.48 by March 13, 2024.
Changelly’s technical indicators reinforce this optimistic outlook, indicating a bullish market sentiment of 80% for Near Protocol. Additionally, the Fear & Greed Index registers an extreme greed score of 82, further underlining positive market sentiment.
Drawing insights from the price fluctuations observed at the onset 2023, crypto experts have formulated an average projected NEAR rate of $10.06 for March 2024. While this average is a benchmark, fluctuations within the market suggest potential variations, with the minimum expected price hovering around $9.89 and the maximum reaching $10.23.
Considering these forecasts, investors may be enticed by the potential return on investment (ROI) of 36.4%, indicative of the promising growth prospects for Near Protocol in the coming months.
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