|24H Price Change||+2.3%|
|7D Price Change||+25.3%|
|Circulating Supply||844.12 million|
|Trading Volume||$57.47 million|
Additional Read: Near | Price Predictions
Near Protocol Technical AnalysisSource: Tradingview
The Development activity of the protocol is a significant indicator of the growth fundamentals of the platform. A rise in the development activity indicates the team is working behind a specific goal to reach to strengthen the platform which induces significant bullish momentum within the market participants. This may in turn amplify the market prices of the protocol. The development activity of Near protocol had dropped to rock bottom levels, which has rebounded and risen to some extent. This bullish indicator may uplift the price in a concise time frame.
Social dominance measures the dominance of the asset compared to the top 100 tokens within the market. If the mentions or messages of the token rises compared to that of the other tokens, then it is considered that the dominance rises. The NEAR social dominance has been consistently bearish ever since the market collapsed in May 2022. The dominance rose heavily for only a few days in October 2022 and quickly fell and remained flat until the moment.
The trading volume indicates the number of funds being rotated in the past 24 hours. The day market collapsed in May 2022, the trading volume recorded the highest of nearly $1.98 billion. However, amid the bear market, the volume drastically dropped and reached levels below $50 million. Presently, the volume has again slashed below $100 million to reach $64.93 million after reaching interim highs of around $334.84 million.
The crypto markets have been heavily bearish throughout the year 2022 and are hence believed to remain to trade towards the south as the bears continue to haunt the rally. After reaching the bottom, which is speculated to be fast approaching, the price may begin with a suitable recovery phase. By the end of H1 2023, the price may have risen slightly to reach close to $2 and consolidate at these levels for a while.
During the second half of the year, the NEAR price may have gained significant strength to revive a notable bullish trend ahead. By the end of Q3 2023, the NEAR price may attempt to surge beyond $5 and by the end of the yearly trade, the price could trade between $7 to $8 but may remain distinct from a double-digit figure.
The NEAR price is believed to be highly bullish in 2024 ever since the beginning of the yearly trade. The price after soaring close to $10 coil reclaims the levels in the first few weeks of 2024 and maintains a notable upswing thereafter. By the end of H1 2024, the price could soar high beyond $12 and begin a substantial bull run thereafter.
However, the bulls could have gained enough strength to face the bearish action. Hence, each price drop could act as a trigger to rise above the interim highs. By the end of Q3, 2022, the price is believed to reach beyond $15. Further, the NEAR price may try to reach close to $20 and sustain above the levels by the end of 2024.
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The cryptos in the longer time frame are believed to remain bullish in nature and form new highs in the coming days. The bull run which is speculated to begin in 2024 is believed to continue throughout H1 2025 and close the yearly trade on a bullish note. Further, the price may undergo a minor pullback amid the correction phase in the coming years 2026 and 2027.
During the year 2028, the price may again rise and lay down a notable upswing to reclaim the lost levels. After testing the previous highs, the NEAR price is believed to remain bullish in the following years. By the year 20230, the price could surge close to a 3-digit figure, if the markets are not hit by a bearish wave.
|Year||Near Protocol Price Forecast|
|2023||$5.5 to $6.5|
|2024||$11.8 to $18.5|
|2025||$25 to $32|
Near Protocol ever since its inception in 2020 has manifested acute strength and desire to form new highs very quickly. However, the current bearish market has squeezed the price largely which is believed to be overcome very soon. Despite this, a deep knowledge of market trends and a close observation of the price movements are very necessary before investing in NEAR tokens or any of the cryptos.
NEAR price is believed to rise and reach levels above $6 by the end of 2023
The bulls are believed to regain the grip over the rally soon which may inflate the price close to a 3-digit figure in 2030.
Near Price may test its current ATH in the coming months and hence could continue to maintain a healthy upswing. However, after maintaining a notable rise, the price could reach $100 in the near future.
Near protocol has been displaying significant volatility which prevents steep rise or plunge. Hence could be a safe investment.