Crypto analyst Crypto Bullet has shared a bullish forecast for Near Protocol (NEAR), indicating a potential upward trend for the ai crypto. According to the analyst, the medium-term correction has ended.
Moreover, NEAR could be poised for a rally similar to the one seen from around Q4 2023 and Q1 2024. The analyst has outlined two price targets, with the first set at $29 and the second at $52.
What you'll learn 👉
Near Protocol’s Price Analysis
The chart analysis provided by Crypto Bullet traces NEAR’s price movement from 2021 into the projected future, offering insights into the crypto’s volatile nature. The historical data reveals various peaks and troughs, reflecting broader market trends.
Besides, the most recent phase, described as a “Mid-term Correction,” took place in early 2024, suggesting a temporary dip or consolidation period.
Like the gain seen in late 2023 and early 2024, Crypto Bullet forecasts a robust surge forward in the next months. Reflecting the analyst’s positive view of NEAR, the chart features a green arrow showing the price spike.
Price Targets: $29 and $52
The analysis sets two specific price targets for NEAR. The first target of $29 represents the initial stage of the predicted rally, signaling a notable gain from its current price. Crypto Bullet anticipates this level will be reached during the next wave of upward movement.
Moreover, the second target of $52 is described as the potential peak, aligning with what the analyst calls a “Macro Bull Market Top.” Additionally, this level would mark a new all-time high (ATH) for NEAR, representing a more extensive surge as part of a broader cryptocurrency bull run.
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Technical Analysis and Market Sentiment
Crypto Bullet’s projections are supported by technical indicators, including Fibonacci retracement levels. Specifically, the 1.272 level is identified near the $52 target, hinting at its significance in determining potential reversal zones.
The analysis also assumes positive market conditions similar to those seen during previous bullish phases. While f $29 and $52 targets may seem ambitious, Bullet’s analysis is grounded in historical price patterns and technical metrics
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