šBitcoin Price Increase Positively Affects the Market
š Bitcoin's Positive Impact on $NEAR
Bitcoin's price increase since last Saturday has boosted the market, with some projects, like NEAR, gaining significant strength. The Chaikin Money Flow (CMF) indicator shows a sharp rise in cash flow into NEAR, signaling increased demand and investor interest.
šŖ Increased Demand and Positive Market Sentiment
The rise in demand for near is positively impacting its price, reflecting a noticeable increase in investor purchases. This ongoing positive market sentiment could trigger further increases in NEAR value. Liquidations of short positions in NEAR have exceeded $1 million in the last 24 hours, forcing investors to abandon their short stances. This could lead to price stability and an upward trend.
š NEAR Price Prediction
After a 37% rise last week, NEAR is trading around $6.20. The altcoin surpassed resistance at $6.06, the 23.6% Fibonacci retracement level, potentially turning this level into support and paving the way for new rises. However, if NEAR doesn't close above this level, the price may reverse, potentially falling to the critical support level at $5.20.
