Price Analysis View Non-AMP

Growing Demand Fuels NEAR Price Recovery, Eyes $12

Published by
Sohrab Khawas

As Bitcoin finds an oomph of bullish momentum, leading to a 7.87% jump in the last five days, the altcoins are preparing for a turnaround. Amidst such altcoins, the NEAR protocol’s native token takes a price jump, teasing a prolonged uptrend. 

With a significant bullish reversal, Near protocol is ready to challenge the overhead supply zones. Will the price jump in this altcoin lead to a bull run beyond $10? Find out more in our NEAR price prediction

In the 4H chart, the NEAR price trend showcases a falling trend, leading to a bearish channel pattern. The correction phase led to a death cross between the 50 and 200 EMA. Further, the price dropped under $5 with a 45% decline in market cap within 30 days. 

However, the recent bullish reversal from the support trendline reflects a trend reversal opportunity in the altcoin. The upcycle accounts for a 40% rise in 9 days and approaches the $7 mark. 

Currently, the NEAR price trades at $6.881 with an intraday move of 6.98% and a third consecutive bullish candle in the 1D chart. This reversal teases a bullish breakout of the descending resistance trendline. 

The altcoin shows a 20% hike in trading volume, bolstering the ongoing recovery rally. This supports the possibility of a bullish breakout. 

Also Check Out : Core Price Prediction: CORE Price To Hit $3.5 Soon?

Technical indicators:

EMA: The 50 EMA finds an uptick in the 4H chart as the bullish momentum increases. This increases the possibility of a golden crossover and bolsters the trend reversal opportunity.

Will NEAR Price Recovery Reach $9?

With the buyers gaining momentum coupled with the broader market recovery, the altcoins are ready for a trend reversal. Further, with the high likelihood of a bullish breakout of the falling channel, the NEAR price could hit the $10 psychological mark. 

However, the trend-based Fibonacci level brings an even more optimistic target of $12.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Best Cryptocurrencies for June 2025: Ripple (XRP), Dogecoin (DOGE), Mutuum Finance (MUTM)

As market sentiment shifts and fresh momentum builds across digital assets, June 2025 presents a…

June 2, 2025

Live Coin Watch Alert: Bitcoin Solaris’s 21M Fixed Supply Creates Your Second Chance at Bitcoin’s Growth Path

When Bitcoin first emerged, its fixed 21 million supply was mocked. Today, that scarcity has…

June 2, 2025

Singapore Cracks Down on Unlicensed Crypto Firms with Strict New Rules

Singapore’s financial authority announces that unlicensed crypto firms operating overseas after June 30 will be…

June 2, 2025

Can U.S. Buy More Bitcoin? Here’s What David Sacks Revealed

On May 27, 2025, US President’s crypto czar, David Sacks, says there is a pathway…

June 2, 2025

After Monero Surge, Wall Street Ponke Gains Momentum, maybe Under $1?

Hackers used Monero to move stolen Bitcoin, pushing XMR up 24 percent to $269. But…

June 2, 2025

Pakistan Allocates 2,000MW for Bitcoin Mining and AI: A Digital Revolution

Pakistan has allocated 2,000 megawatts (MW) of electricity to fuel Bitcoin mining and artificial intelligence…

June 2, 2025