- NEAR price is up by over 10% in the last 24 hours.
- Can the surge set a higher low before the end of the week.
- How far can NEAR pump this month and quarter?
The crypto community is pleased to see the crypto market rally quickly after a short correction was expected. Now, crypto prices seem to be holding steady and moving upwards into the start of the new month and final quarter of the year. In particular, some assets continue to outperform others. In detail, NEAR price is up by over 10% in the last 24 hours, can the surge set a higher low for NEAR price?
NEAR Price Is Up By Over 10% in the Last 24 Hours
According to CoinMarketCap analytics, the price of NEAR is up by almost 11%, meaning that the asset is currently trading in the $5.5 price range. This shows a spectacular rally for NEAR price as the market transitioned from the end of Q3 where crypto prices experienced a small price drop and into Q4, a phase where the state of the market was unknown. Based on the market’s performance so far, Q4 seems healthily bullish.
As we can see from the post above, this expert highlights how the price of NEAR just broke out of the box, meaning the asset went from trading at a lower price zone into entering the next leg up price box. In detail, NEAR price spent a full day stuck between the $4.76 and $5.17 price range. Then, with just a single one-hour candle this morning, the price of NEAR ripped it straight through the lid to $5.34.
Can the Surge Set a Higher Low for NEAR Price?
What’s more impressive is that NEAR pulled off this surge while LINK and AVAX are experiencing a drop in their price by over 5%. The analyst then confirms that $5.17 was the lid, meaning that now, it is the floor that must be decided. He then concludes by stating that as long as $5.17 holds, $5.50 is the likely target to be tested next. However, if $5.17 is lost, then $5 will be the retest target.
So will the price of NEAR claim its next bullish pump target at a higher high or will it confirm its higher low first? According to the expert in the post above, it is crucial for NEAR to set its next higher low. To specify, the expert goes on to highlight how after a sharp recovery, the price of NEAR is pulling back beneath the $5.5 – $6.2 resistance zone.
The analyst then advices traders to also watch the $3.8 – $4.30 price range for support, as holding this line would strengthen the case for another breakout attempt. By clearing the $5.5 – $6.2 price range and the macro descending trendline, the $7.4 – $9 price range becomes the next major test. Above that, $10 – $12 comes into focus. However, losing $3 would mean that attention shifts to the $2.7 – $3.3 price area. With the weekly candle still open, can buyers defend the recovery?
