Crypto analyst Michaël van de Poppe shared some insights on X (formerly Twitter) about NEAR’s price, suggesting that it might have hit its bottom and be ready for a huge surge in the upcoming months. 

The analyst estimates that NEAR might hit a price target of $15 to $20 within the next three to six months if the current trend holds. This optimistic outlook aligns with recent chart analyses, which indicate key support and resistance zones, as well as signals of growing buying interest.

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NEAR Protocol Technical Analysis: Long-Term Downtrend Shifts to Consolidation

From the token price history, it had a very clear peak in 2022, and later on, the price fell greatly throughout the year as these prices correlated with the trends of the crypto market. Over the last year, NEAR’s price has progressed from a bearish trend to a point of consolidation.

This change indicates that the selling pressure is no longer present, thus allowing the price to become stable. According to some analysts, this period might be the one that prepares NEAR toward a new price action trend, an ascending growth pattern.

Michaël van de Poppe’s tweet also goes along with this speculation since the analyst has remarked that NEAR reached the point where its plenary declines and is prepared for the next leg of the market uptrend. His commentary indicates optimism that NEAR has indeed passed its recent lows and will likely appreciate.

Image Source: X/MichaëlvandePoppe Key Support and Resistance Zones

Technical analysis highlights a major support zone for NEAR between $2.79 and $3.41. This range has historically served as a stable floor for NEAR’s price, offering potential entry points for investors seeking a favorable risk/reward ratio. Should this level hold, it could act as a strong foundation for an upward push.

The chart also points to a key resistance level around $15, which aligns with van de Poppe’s mid-term target. This target is a significant milestone that NEAR will need to surpass to confirm its potential for sustained upward momentum. If NEAR manages to break past this level, it may encourage further buying interest, potentially fueling its rise toward higher price targets.

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Volume and Momentum Indicators

After the 2022 peak, trading volume for NEAR has generally declined, indicating reduced market activity. However, recent weeks have shown slight volume increases, suggesting a possible accumulation phase. 

More buying activity has also been indicated by momentum indicators such as the Relative Strength Index (RSI), which has displayed indications of an upward trend. An optimistic argument for NEAR’s price soon may be supported by a rising RSI, which frequently indicates growing momentum.

Investors eyeing NEAR are watching as it navigates key support and resistance zones. If the current momentum builds and the market remains favorable, NEAR Protocol could be on track to achieve van de Poppe’s price targets, potentially delivering attractive returns to long-term holders.

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The post Could NEAR Protocol Price Be Headed for a $15 Target? Analyst Weighs In appeared first on CaptainAltcoin.