Near Protocol (NEAR) Keeps Edging Closer to the $3.00 Mark
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
- NEAR maintains bullish momentum above the 9-day EMA.
- Stochastic RSI signals suggest potential further upside.
- NEAR could break $3.00 and move toward $4.00.
Despite the bearish situation in the crypto market, Near Protocol, among a few others, has defied the norm by continuing to head toward higher price levels. This trend, however, can be said to have tracked the significant liquidity that is currently flowing across the project’s blockchain at the moment. Let’s examine the market more closely as we delve deeper below.
NEARUSDT on a 24-Hour Market Chart
The Near Protocol token has been tracking higher price levels since it rebounded off the upward-sloping trend line in August. The ongoing session is represented by a long green price candle, which has placed the current price of the token above the 9-day Exponential Moving Average (EMA) line. Similarly, the Stochastic Relative Strength Index (SRSI) indicator lines are also converging for an upside crossover below the 50 mark.
Near Protocol Assumes a Promising Outlook
With all the available indications arising from studying the market’s technical indicators, it is clear that traders are taking bullish stances. This also seems to have been fueled by the growing liquidity flowing across NEAR’s blockchain.
From a technical point of view, price action seems ready to keep going north. The latest price candle stands above the 9-day EMA. Also, the Stochastic RSI lines are converging for a bullish crossover. Therefore, the indications are converging to suggest that stronger upside moves may still occur in this market.
NEAR May Hit a $3.500 Price Target Shortly
The price movement in the NEARUSDT market has been generally bullish since around mid-August. There have been some short pullbacks, however, but the market has subsequently returned to its upward trajectory. The ongoing session has stayed on this path and seems very much on track to take the market past the $3.000 ceiling toward the $4.00 price mark.
