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NEAR Protocol (NEAR) has recently captured the attention of cryptocurrency enthusiasts with its notable surge, hinting at a potential upward trajectory. NEAR has demonstrated remarkable strength within the past week, boasting an impressive surge of almost 19%. This surge reflects a growing confidence in the project’s underlying fundamentals and its positioning within the market. Additionally, the token has experienced an 8% increase over the course of the last 30 days.
At the time of writing, the token is priced at $7.42, with a notable 24-hour trading volume of $1.14 billion. Its market capitalization currently stands at $7.94 billion. Within the last 24 hours, the price of the token has experienced a modest increase of 2.22%.
Crypto analyst World Of Charts has recently shared an optimistic perspective on the future trajectory of NEAR Protocol’s price. Following a substantial correction, indications suggest that the cryptocurrency is poised for a bullish upswing in the near future.
After undergoing a significant correction phase, the token appears to have stabilized and formed a bullish flag pattern, hinting at a potential breakout in the near term. World Of Charts anticipates that if this breakout occurs successfully, the token price could surge towards the $14-15 range in the coming days.
Adding to the positive sentiment, Changelly, a prominent cryptocurrency exchange, has released its latest price forecast for NEAR Protocol. According to Changelly’s analysis, the value of the token is projected to increase by 13.66%, reaching $8.32 by May 08, 2024.
According to technical indicators that were provided by Changelly, which show a high level of confidence (93%) in favoring upward price movement for the token, it is clear that the market sentiment is strongly bullish. Moreover, 71 was recorded by the fear and greed index, indicating the presence of more greed than fear among traders right now.
In addition, based on historical price data and expert analysis, some experts within the crypto industry have come up with predictions about how NEAR Protocol might perform price-wise over the next few months. Their findings show that the average value of one NEAR coin will be $10.07 by May 2024.
Although this estimate only represents a small increase from what it is currently valued at, minimum projections for prices suggest they could go as high as $9.97 or even $10.17, meaning investors may see returns within a narrow band but still potentially quite significant in percentage terms given these numbers. It should also be noted here that the projected return on investment (ROI) stands impressively at 79.6%, which shows how attractive an investment in the NEAR Protocol can be.
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