Why is NEAR Price Up Today? Analyst Eyes Further Upside To This Level

NEAR, the native token of the NEAR Protocol, has seen a swift price pop over the last 24 hours. Key highlights include:

  • 24H Low: $3.59
  • 24H High: $4.31
  • 24H Volume: $383 million, up 91%

This powerful 17% rally comes as NEAR revisits levels not seen since last summer amid the broader crypto market crash.

The exact driver behind this latest move is unclear, although momentum has been building in NEAR ever since it reclaimed the $3 support level earlier this month. As a reminder, the NEAR Protocol represents a high-performance layer-1 blockchain focused on delivering scalability, interoperability, and usability for decentralized applications.

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Its robust technical architecture and growing ecosystem adoption have sparked renewed investor interest after the chaos of 2022.

Adding momentum, crypto analyst CryptoAce notes that NEAR looks poised to continue higher after clearing the prior $4.60 resistance. Upside price targets likely reside near its all-time high around $20 should bullish momentum persist.

In summary, while the catalyst for this week’s rally is uncertain, NEAR’s blockchain innovation and recent technical breakout signal a resurgence for the NEAR token from a trading perspective. Further volatility is expected with prices at 10-month highs.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!