Near Protocol Gains 31% in 30 Days: Can Bulls Push NEAR to $6?

• NEAR Protocol surged nearly 31% recently, attracting strong investor interest
• Key resistance levels are at $5.469 and $6. Watch for potential price corrections
• Nvidia and Alibaba partnership boosts NEAR, reflecting strong market momentum and trading volume

NEAR Protocol (NEAR) has seen impressive gains recently, climbing nearly 31% in just a month. This surge has attracted crypto investors as bulls push to break through key resistance levels. A recent partnership between Nvidia and Alibaba has sparked interest in AI tokens, boosting NEAR significantly.

NEAR Protocol’s Current Market Position

Currently, NEAR trades at $5.217, reflecting a 6.36% increase in the last 24 hours. This rise has lifted its market cap to around $5.79 billion. Daily trading volume is a robust $890 million, indicating strong investor interest. This momentum has pushed NEAR above the upper Bollinger Band, now at $5.072

The Commodity Channel Index (CCI) has also jumped to 224.85. A CCI reading above 100 suggests an asset is overbought, ing caution among investors. High readings like this can often precede price corrections. Despite this, NEAR has shown strength, retesting the upper Bollinger Band after a small drop earlier today. This indicates bulls are firmly in control for now.

Key Resistance Levels Ahead

NEAR faces key resistances at $5.469 and $6.301. The $6 level is a significant target for bulls. However, NEAR hit strong resistance at $5.9, leading to ten consecutive days of losses.

To break this barrier, NEAR must hold above $5.469. Maintaining momentum is essential for a successful push to $6. If this resistance holds, the price might drop to the Pivot support levels at $4.954 or $4.121.

With favorable market conditions and strong trading activity, bulls are eager to push NEAR past the $6 mark. However, investors should monitor resistance levels and market trends closely, as volatility can shift quickly.

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.