NEAR: 3 Reasons This Crypto Is Up 80% While Others Hibernate In The Run-Up To 2024
26 Dicembre 2023 - 9:05AM
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In the prevailing bearish backdrop of the broader cryptocurrency
market, NEAR Protocol (NEAR) emerges as a noteworthy exception,
showcasing remarkable resilience and defying the prevailing
downtrend. Its trajectory has been one of sustained upward
momentum, a trend that notably took root around mid-December and
has continued to gather strength. Unlike the general market
sentiment characterized by a downturn, NEAR has not only weathered
the storm but has surged impressively. Over the last seven days,
the cryptocurrency has experienced a significant 80% increase in
value, a feat that has not gone unnoticed by market participants
and enthusiasts alike. Related Reading: Shiba Inu Climbs 12% On
Christmas Day – Brewing Bull Run Or False Dawn? This surge has
effectively propelled NEAR to double its base value, which stood at
$4.24, signaling a robust and impressive performance in contrast to
the prevailing market conditions. Here are three reasons why this
token is thawing in the run-up to 2024: NEAR: Technical Resilience
NEAR’s upward trajectory is not a mere coincidence but is supported
by robust technical indicators. A decisive price breakout on
December 21st shattered a crucial resistance level at $4.0, paving
the way for sustained growth. This breakout generated warmth for
further price appreciation. Furthermore, an ascending trendline,
currently positioned at $3.7, acts as a reliable support against
potential downward movements. The Average Directional Index (ADX)
at 40% signals potential buyer exhaustion but also indicates a
healthy correction for long-term bullishness, portraying an
enduring technical strength that is not easily extinguished. NEAR
market cap currently at $4.292 billion. Chart: TradingView.com
Community Momentum NEAR’s success is not a solitary achievement; it
is a result of a thriving community. The trading volume has surged
impressively by 170% over the past week, reaching over $410 million
on December 25th alone. This surge in trading activity underscores
the growing investor confidence. Open Interest (OI), representing
future buying potential, has also surpassed $140 million,
reflecting a shared optimism that NEAR’s flame is burning bright.
Source: CoinAlyze This fervent belief adds fuel to the fire,
attracting a considerable number of new participants—over 48,000 in
the past week—drawn to the warmth of the NEAR ecosystem. Future
Roadmap Looking ahead, NEAR’s future appears ablaze with ambitious
plans outlined in its 2024 development roadmap. These plans include
high-speed transactions exceeding 100,000 per second, enhanced
scalability to eliminate bottlenecks, and the introduction of
innovative dApps like Nightshade 2.0, promising enhanced privacy
and security. Related Reading: XRP In December 2023: Decoding An
800% Nostalgia And The Hope For $1 These developments solidify
NEAR’s position as a frontrunner in the crypto space, leaving
competitors in the shadows and envying its progress. NEAR’s ability
to withstand the challenges of the current market makes it a beacon
of hope for investors seeking both warmth and growth. As market
conditions gradually improve, NEAR is poised to breach the $5
barrier, representing a potential 30% increase from its current
price. This outlook is likely to attract those yearning to escape
the chill of the crypto winter, further cementing NEAR’s position
as a noteworthy player in the evolving crypto landscape. Featured
image from Shutterstock
Grafico Azioni NEAR Protocol (COIN:NEARUSD)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni NEAR Protocol (COIN:NEARUSD)
Storico
Da Set 2023 a Set 2024