[NEAR protocol expected to rise 45% in October]
NEAR Protocol is approaching a potential breakout and is expected to rise by 45%, so it’s important to keep a close eye on its moves.
The recent price correction has not affected investor confidence in NEAR, and funding rates have remained positive, showing that traders remain optimistic about its future price. This shows that bulls are in control, setting the stage for the next potential rise.
Overall economic momentum is strong in NEAR, Chaikin Fund Flow (CMF) is showing increased inflows, CMF has continued to rise since August, indicating increasing buying pressure, and currently CMF is above the neutral line, which is a strong signal of a bullish trend.
NEAR is currently trading at $5.31, having unsuccessfully attempted to break above the key resistance level at $5.74. A successful breakthrough could lead to greater gains. Technical analysis shows that if it can overcome resistance, NEAR could rise 45% along a double bottom pattern with a price target of $7.47. Failure to break $6.37 could see NEAR consolidate near $5.13, delaying the bullish outlook.
