Near Protocol price recovers the $6 mark, with a weekly increase of ~18%.
Technical indicators are recording sustained bullish price action this week.
NEAR's price is trading at a 24.13% discount to its yearly high.
With the recent price surge, the price of Near Protocol has reclaimed the 20th position in the cryptocurrency market by overtaking the UNUS SED LEO token (LEO), which is currently valued at $7.82 billion.
Amid the ongoing bullish rally in the crypto space, will Near Protocol lead the AI rally this year? Let’s understand the short-term prospects of the largest Artificial Intelligence (AI) token by market cap.
NEAR Price Retests June High!
Despite NEAR price breaking its 4-day entry streak with an intraday drop of ~1.5%, it maintained its value above the $6.5 mark. This highlights strong bullish price sentiment for altcoin in the crypto space.
TradingView: NEAR/USDT
Furthermore, the altcoin recorded 14/25 green days this month. During this period, it added 93.64% to its valuation and successfully registered a 6-month high. With a market cap of $8.23 billion, it secured the 20th position.
Near Protocol Technical Sentiments
The Simple Moving Average (SMA) constantly supports the Near Protocol price chart on the 1D timeframe, indicating a bullish outlook for this Artificial Intelligence (AI) token in the market.
Additionally, the Relative Strength Index (RSI) has broken out of the overbought range on the daily timeframe, with its mid-trend line hovering close to it. This suggests that the altcoin could continue gaining value this week.
Is NEAR price worth buying?
Suppose the bullish sentiment intensifies, it could result in the Near Protocol token retesting its resistance level of $7,685. Furthermore, if the bulls continue to gain momentum at this point, the NEAR coin price could be poised to test its upper resistance level of $9.
However, a bearish pullback could result in this altcoin dipping towards its $6,225 support. Furthermore, if the bulls fail to regain momentum at that point, the NEAR token could retest its lower $5 support level this year.
Frequently Asked Questions
How much is 1 NEAR worth?
With a jump of 7.38% and a trading volume of $1.565 billion, the price of Near Protocol is currently exchanging hands at $6.828.
How high can Near Protocol go?
With a potential rise, this AI token could reach a high of $26.43 by 2030.
What will be the value of NEAR in 2025?
If the bullish sentiment is maintained, Near Protocol price could surpass the $10 mark in 2025.
