Near Protocol’s Bullish Journey

However, a breach of $6.08 support could lead to a decline in Near Protocol’s price, potentially revisiting lower support levels.

The price of Near Protocol (NEAR) has surpassed two significant obstacles in the last year. The AI cryptocurrency coin retested the blockade in December, following the initial escape, which confirmed the breakout.

Following the December breakout, the Near Protocol price retested the $2.76 roadblock in January before confirming its next northward move to challenge the $6.08 resistance.

Following a break above $6.08, if past events indicate, the present retest of this buyer congestion level could propel the NEAR price by 50% north, surpassing the resistance at $10.24.

The Relative Strength Index is significantly greater than the ’50’ mean, which is supported by the Awesome Oscillator (AO) histograms’ expanding volumes, which indicate a bullish trend.

Navigating Near Protocol’s Future Trajectory

The potential for the Near Protocol price to rise depends on NEAR investors maintaining their position beneath the $6.08 support. A significant catalyst for this result is a demonstration of resilience in the cost of Bitcoin (BTC).

If the retest proves fruitful and the NEAR price breaches the $10.24 barrier, investors would subsequently aim for $15.00, an approximate 125% increase from the present.

Conversely, should the $6.08 support level be breached, the price of Near Protocol may decline.

A weekly closing price decline significant enough to render the bullish thesis invalid would establish the conditions for the NEAR price to re-visit the $2.76 support.