price Close to the protocol's native token, NEARhas seen upward momentum recently, with a cryptocurrency analyst predicting further price increases and suggesting that the coin could see a rise to over $10 soon.
Nearby the price of the protocol is ready to increase by $10
The famous cryptocurrency trader and analyst, known as Bluntz on X (formerly Twitter). unveil Main price prediction close. The analyst revealed that the price of NEAR is showing historical patterns indicating an upward rally, potentially exceeding $10.
$ close Turbo sends here imo pic.twitter.com/4o28UEsfE1
– Bluntz (@Bluntz_Capital) April 3, 2024
Plantz, a pseudonymous analyst known for his eerily accurate predictions for Bitcoin (BTC) in June 2018, predicted that… Bitcoin price It would bottom at $3,200 after hitting an all-time high of $20,000 at the time. According to his insight, Bitcoin fell to a level close to the expected target price by December of the same year.
Now, using technical analysis based on the Elliott Wave principle, Plantz has shared a price chart view Near the potential high of the protocol To more than $10.
NEAR market cap currently at $7.4 billion. Chart: TradingView.com
Elliot wave theory, developed by Ralph Nelson Elliott, is a technical methodology that analyzes recurring, long-term price patterns related to ongoing changes in investor sentiment and psychology. This technical tool is used to predict cryptocurrency price movements based on greed and fear.
Bluntz presented two charts showing Near Protocol's price movements against Tether (USDT) and another against Bitcoin.
In both charts, Near Protocol experienced a series of price fluctuations, moving between green and red areas before showing strong price fundamentals that could push its price above $10. The cryptocurrency analyst has set an expected timeline for this price rise to be around mid-April, specifically before April 15th.
Insight into NEAR's recent price movements
Over the past month, Near Protocol's price has been on a steady upward trend, posting an impressive 26% increase. Furthermore, the total market capitalization of the cryptocurrency increased by more than 6%, accompanied by a 25% increase in 24-hour trading volume.
At the time of writing, Near Protocol is trading at $7.09, reflecting a massive 5.89% increase in just one day, according to CoinMarketCap. These developments highlight the growing appeal and demand for the popular token in the dynamic cryptocurrency space.
As did Ilya Polosukhin, co-founder of Near Protocol He praised The NEAR team's continuous efforts in maintaining the steady growth and development of the cryptocurrency over the past few months. Polosukhin noted that thanks to the team's dedication, the capacity of the proximity protocol has increased by 50%, ensuring a more efficient network to serve users.
Featured image from Pexels, chart from TradingView
