- Analysts share bullish expectations for altcoin NEAR.
- Has the asset bottomed out yet for the cycle?
- Could this mean the price of NEAR could surge and hit new highs?
Several altcoins are showing bullish signals on their various respective price charts despite the overall bear market movements in the crypto market. Before the dip, assets like NEAR, XLM, FET, and many other altcoins were steadily pumping. Now, after the dip, these altcoins may pump before the rest, like XRP. Analysts share bullish expectations for altcoin NEAR, has the asset bottomed out yet?
Analysts Share Bullish Expectations for Altcoin NEAR
According to CoinMarketCap analytics, the price of the native token on the Near Protocol ecosystem NEAR is trading at the $2.08 price range, showing that the altcoin has dipped by over 3% in the last 24 hours, and has dipped over 26% in the last 7 days. The expectation now is the eyes of many experts is that the market has fallen due to BTC and ETH price falling, meaning promising altcoin prices may rise over the next few months.
As we can see from the post above, this expert highlights how NEAR has successfully defended its most important demand zone. To specify, after the recent market-wide selloff, the price dipped into the $1.79 – $2.04 support region, found buyers, and reclaimed the area. Now, the analyst explains, the next levels to watch are the $2.35, $2.62, and $3.08 price range. The expert in the post also goes on to say that as long as NEAR continues building higher lows above support, the structure remains constructive. The real test comes at $3.08, a level that has rejected price for nearly 7 months.
Similarly, another expert shares his expectations for NEAR. As we can see from the post above, NEAR is once again trading above one of the most important levels on the chart: $1.80. Since July 2021, NEAR has only broken below this support 3 times. Each reclaim led to a significant recovery. History doesn’t guarantee another explosive move, but it does show that panic below $1.80 has repeatedly created opportunity. The next major hurdle sits at the $2.09 – $2.28 price range.
Has the Asset Bottomed Out Yet?
A breakout there could open the door toward $3.10 and potentially $4.93. For now, all eyes remain on whether NEAR can continue defending its long-term support structure. If the price of NEAR holds these critical levels and breaks past resistance levels, then it is highly likely for the price of NEAR to rise up and hit much higher prices, from $9 to even a bullish $20 price target. The first bull target above $3 is set at $6.50.
