Near Protocol (NEAR) NEAR is the native token of NEAR Protocol, one of the popular smart contracts platforms in the blockchain industry. NEAR token has established a base near $0.9400 and returned snappily over the past few sessions. Moreover, the NEAR token recorded multiple breakouts and trades above the foremost hurdle of $1.60, steering the bulls’ momentum. The NEAR token price is above the key moving averages and has smashed the $1.80 hurdle.
NEAR token price is heading to the round mark of $2.00 and depicts buyers’ accumulation on the charts. Moreover, the price action witnessed the bulls dominance, and a vertical rebound was noted on the charts. Furthermore, the token has healed from the lows and done its correction. The technicals suggest that the NEAR token is ready to accelerate and may reach the swing highs of $2.50 by the end of 2023.
The live price of the NEAR token is $1.823, with an intraday gain of 6.58%, showing bullishness on the charts. Moreover, the trading volume increased by 10.08% to $242.72 Million, and the pair of NEAR/BTC is at 0.0000502 BTC. However, the market cap of NEAR is $1.11 Billion. Analysts have revised the ratings from neutral to buy and suggest a growth outlook for the upcoming sessions.
Will NEAR Token Reach $2.00 by End of 2023?
On the daily charts, the NEAR token price has escaped the barrier of $1.60 on the back of strong buying momentum. Furthermore, the price action indicates that bulls are gaining traction and are trying to reach the round mark of $2.00. Technicals suggest that investors are drawing their attention and making fresh long positions to lift the price. NEAR token price has escaped the 50% Fibonacci retracement zone and is above the mid-bollinger band.
The RSI curve stayed near 70 and noted a positive divergence on the charts. The MACD indicator showed a bullish crossover and formed green bars on the histogram, suggesting a bullish outlook for the following sessions.
Weekly Charts Delivers Consolidation
On the weekly charts, the NEAR token price stayed in the bearish territory and hovered below $2.00. Furthermore, the token is consolidating in a range and has escaped the 20-day EMA after a long time but faced resistance from the 50-day EMA. Additionally, the token underwent its correction phase and is trying to sustain that momentum.
Summary
NEAR token price has picked up momentum and surpassed the primary hurdle of $1.70, witnessing buyers’ strength. Furthermore, the token has surpassed the key moving averages and will soon accumulate the gains on the way to the round mark of $2.00.
Technical Levels
Support Levels: $1.70 and $1.50
Resistance Levels: $2.00 and $2.10
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/19/near-price-prediction-is-near-a-wise-portfolio-pick-now/