Michaël van de Poppe Forecasts NEAR Could Rise Over 275%, Targeting $15 if Key Support Levels Hold

NEAR Protocol's price has been showing positive momentum, and according to cryptocurrency analyst Michaël van de Poppe, the token could see a substantial increase in the coming months.

Cryptocurrency analyst Michaël van de Poppe has shared his bullish outlook for NEAR Protocol (CRYPTO: NEAR) in a recent tweet. According to Van de Poppe, the token could see a substantial increase in the coming months.nnVan de Poppe's analysis suggests that NEAR could potentially rise over 275%, targeting a price of $15 if key support levels hold. He projects that the token is likely to find support between $2.75 and $3.40, charting a bullish outlook for NEAR over the next six months.nn“The markets are shaping up for a reversal. $NEAR has retested a crucial area for support and seems likely to hold from here. As long as $2.75-3.40 holds, I assume we'll see $15 in the next 3-6 months.”nnRecent price movements show that NEAR has seen a 7.33% increase in the last 24 hours and a 10.46% rise over the past seven days. At press time, it trades at $4.19, with a market cap of $4.64 billion and a 24-hour trading volume of $249.2 million. This positive price movement has also impacted the token's social metrics.nnAccording to market data, NEAR's Weighted Sentiment has moved into the positive zone, suggesting that bullish sentiment dominates the market. The token's Social Volume has also remained stable, indicating steady popularity and engagement with the cryptocurrency.nnHowever, while social metrics reflect optimism, on-chain data offers a mixed picture regarding the token's future movement.nnOn-chain data shows an increase in NEAR's trading volume, which aligns with the recent price rise. More importantly, the token's Open Interest has also grown, suggesting that the current bullish trend could continue. Open Interest reflects the number of active futures and options contracts and can indicate growing confidence among traders.nnWhenever Open Interest rises alongside a price increase, it often signals that the ongoing price trend is likely to continue, which in NEAR’s case, points to a bullish outlook.nnHowever, according to Coinglass data, the token's Long/Short Ratio has declined, indicating that more traders are taking short positions, which could imply rising bearish sentiment.nnTechnical indicators for NEAR show that the Bollinger Bands are tightening, with the price nearing the middle band at $4.93. This suggests reduced volatility and a possible consolidation phase. The current support level is around $3.30, while resistance stands at $4.93.nnThe Aroon indicator shows a bullish signal, with the Aroon Up at 57.14% and Aroon Down at 0%, indicating the likelihood of an uptrend continuation. Additionally, the RSI (Relative Strength Index) sits at a neutral 52.13, reflecting balanced momentum without being overbought or oversold.

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