Near Protocol (NEAR) Price Prediction: Bulls Display Huge Strength Despite Bitcoin (BTC) Bloodbath

The Near Protocol price has been demonstrating acute strength ever since the token rebounded from the monthly lows below $5. In times when the selling pressure

The Near Protocol (NEAR) price displayed remarkable strength despite the bearish pressure in the market, stabilizing within a narrow range and preventing excessive loss.

The bulls showed strength, keeping the rally stuck between $5 and $5.3 for the past few days. The NEAR price was trading within an ascending triangle and instead of triggering a breakout from the apex, it underwent a 40% pullback. However, the long-term price action of Bitcoin turned bearish, while the NEAR price remained under bullish influence.

The price underwent a correction after reaching the upper threshold of a pattern, and hence it is expected to kick off a fresh ascending trend and reach the upper resistance zone. While the short-term trade flipped the bearish pressure, the weekly trade also showed signs of a bullish reversal.

The rally was rising within a rising wedge and as a result, this caused a 35% pullback and triggered a strong rebound before marking the lower crucial range at $4.5. Besides, the weekly RSI has also initiated a bullish reversal, which suggests the bullish forces have regained their strength and hence the NEAR price is expected to maintain a healthy ascending trend.

The weekly trade began on a bullish note and hence the upcoming monthly close is expected to be on a positive note. The price is closely accumulating within a range and hence a breakout may occur, pushing the prices above $6 very soon. However, before the end of the month, the Near Protocol price is believed to stand strongly above $5.5 after experiencing a minor correction.

News source：https://www.kdj.com/cryptocurrencies-news/articles/protocol-price-prediction-bulls-display-huge-strength-bitcoin-btc-bloodbath.html

The above is the detailed content of Near Protocol (NEAR) Price Prediction: Bulls Display Huge Strength Despite Bitcoin (BTC) Bloodbath. For more information, please follow other related articles on the PHP Chinese website!