Price Analysis

Algorand(ALGO) & Near Protocol(NEAR) to end 2021 Trade With a Blast! What About BTC & ETH?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 30, 2021

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Highlights

    Near Protocol is on the verge of forming a new ATH, but whether it would end the 2021 trade at new highs is the crux of the matter

    Algorand appears to be successful in maintaining a notable uptrend to some extent as it thrives amid the deep bearish market sentiments

Near Protocol in recent times gained immense adoption and recognition as the prices are surging despite the bearish market sentiments. The asset flipped the downturn since the beginning of the past week and maintained a notable uptrend to hit the ATH at $16.49. However, unlike many of the assets, the NEAR price appears to stand strong close to these levels to register yet another ATH before EOY.

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The NEAR price position appears to be more appealing & strong that could hit the ATH in the upcoming hours or by the next day. Currently, the bears are leaving no stones unturned to take back the control while the bulls are already in a very strong position. But they are allowing the bears to drag the price lower a little so that more buyers jump in. And hence the asset could end the yearly trade not only on a bullish note but also with a new ATH. 

The NEAR price at the press time is around $14.63 with a jump of 10.83% compared to the previous trading day. The trading volume experienced a jump of more than 87.24% registering more than $1.4 billion while the market cap increased by 9.46% bringing the asset within the top 25. 

Algorand(ALGO) Poised To Hit $1.8 Levels Soon!

Algorand is among those tokens which is restrained from hitting the previous ATH amid the 2021 bull rally. Despite multiple attempts yet the asset managed to range close to $3 but could not surpass. Moreover, the negative market movements slashed the price each time compelling the asset to reach the lower levels around $0.6. Yet with the recent price movements, the asset is showcasing its strength and its tendency to go parabolic in 2022.

The ALGO price went parabolic soon after the price slashed in the first week of December. The asset reached the neckline of the ‘cup & handle’ pattern formed and quickly plunged below $1.5 to complete the pattern. However, the asset flipped the downtrend and quickly initiated with a notable surge which is usually the outcome of the pattern. However, the algorand price is yet to reach the levels along the neckline, which are very mandatory to determine the upcoming rally. 

Once the asset breaks through the neckline, the uptrend is confirmed that may uplift the price above the crucial resistance levels around $1.797. Until then the fear of a trend reversal may continue to hover. At the press time, the ALGO price is around $1.6390 with a jump of 11.46%. The trading volume witnessed a drastic jump of nearly 86.35% while the market cap surged more than 11%. 

Collectively both the assets are on the way towards registering new highs before the end of the year 2021. Currently, both NEAR price & ALGO Price are maintaining a substantial uptrend and hence may continue for the next couple of hours. However, with a slight relaxation, they are expected to resume with uptrend to reach their respective targets. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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