The post Near Protocol (NEAR) Price To Surge 25% As Sentiments Turn Bullish? appeared first on Coinpedia Fintech News
The cryptocurrency market continues to display a bearish price action by recording a correction of 1.31% in its global valuation. Further, top tokens such as Bitcoin and Ethereum continue hovering close to their important support levels, highlighting uncertainty.
However, the Near Protocol price has recorded a jump of over 6% to its portfolio with a trading volume of $343.367 Million, a change of +79.17%. With the ongoing volatility in the crypto space, will NEAR price gain momentum and outperform top altcoin this week?
NEAR Coin Price On The Verge Of A Major Breakout?
Despite a correction in the AI and Big Data category, the Near Protocol price continues to experience a constant uptrend by recording a positive price action for the 5th consecutive day. Notably, this altcoin has added 17.42% to its portfolio during this week, highlighting increased bullpower.
TradingView: NEAR/USDT
Furthermore, the NEAR price has formed a descending triangle pattern in the 1D time frame and has continued to trade within it since June. However, it is on the verge of testing its resistance trendline, the outcome of which is unpredictable.
With a trading price of $4.877, the Near Protocol (NEAR) price has successfully secured the 18th position in the cryptocurrency list with a market capitalization of $5.310 Billion.
Near Protocol Market Sentiments:
The Moving Average Convergence Divergence (MACD) has constantly risen in the green histogram, indicating increased buying pressure within the crypto space. Moreover, the averages record a bullish action, suggesting a positive outlook for the AI token this week.
On the other hand, the SMA indicator displays a bullish crossover in the 1D time frame, suggesting an increase in the bullish sentiment for the NEAR price in the crypto space.
Will NEAR Price Hit $7.65 This July?
If the market breaks out of its resistance trendline of the triangle pattern, the Near Protocol price will test its upper level of $6.225. Maintaining the price at that level will set the stage for NEAR crypto to head toward its $7.685 level this month.
Conversely, if the bears regain momentum, the Near price will lose momentum and plunge toward its crucial support trendline.