Short-term strategy: Buy if NEAR holds $3.60

Comprehensive Analysis of NEAR Protocol (NEAR) by StocknAi Method

1. Market Overview and Data

• Current price: $3.69

• Market capitalization: $4.08 billion USD

• 24h trading volume: $153.44 million USD

• All-time high (ATH): $20.44 (down 81.97% from this level)

• All Time Low (ATL): $0.526 (up 599.53% from this level)

2. Technical Analysis

• Price Pattern: NEAR Protocol is recovering slightly after a sharp decline in recent times. Over the past 24 hours, NEAR has increased by nearly 3.7%, which could suggest a reversal or at least a temporary recovery. Current technical patterns suggest that NEAR could be forming a “Descending Triangle” or a “Bullish Flag,” depending on the upcoming resistance breakout.

• Technical indicators:

• RSI (Relative Strength Index): The current RSI is still neutral, which shows that NEAR still has room to increase in price without falling into overbought territory.

• MACD (Moving Average Convergence Divergence): MACD has started to cross above the signal line, a positive sign that could signal an uptrend.

3. Trading Volume Analysis

• Trading volume: Trading volume is increasing along with price, indicating strong investor participation and could be a sign of a more sustainable uptrend in the short term.

4. Analyze News and Market Sentiment

• Recent News: NEAR Protocol is making major improvements, including integrating multi-chain transactions from a single account and increasing network sharding to improve scalability. Additionally, NEAR developers are focusing on improving the user and developer experience, which could attract more projects to the NEAR ecosystem.

• Market Sentiment: Market sentiment for NEAR is currently somewhat positive, especially as investors and developers are closely monitoring technical updates and network expansion. However, the recent event of NEAR’s X (formerly Twitter) account being hacked has caused some concern, but does not seem to have a lasting impact on the price.

5. Probability Analysis and Recommendations

• Highest Probability: Based on technical analysis and recent news, NEAR Protocol is likely to continue to increase in price in the short term. The combination of positive technical signals and positive news from new partnerships and development projects makes the probability of NEAR continuing to increase in price higher.

• Entry: Buy at current price around $3.60 - $3.70 if price does not fall below $3.50.

• Take Profit (TP): Set TP1 at $3.80 and TP2 at $4.00 if price crosses $3.80.

• Stop Loss (SL): Set SL at $3.40 to protect against downside risk.

Conclude

• Short-term strategy: Buy if NEAR holds $3.60 and prepare for a rally as the market continues to react positively to new partnership and development news.

• Long-term strategy: Hold position and wait for price increase as NEAR continues to establish itself in the blockchain space with major partners and new projects.

This strategy has about a 65% chance of success, with fundamentals and market news continuing to support NEAR Protocol.