The post NEAR Protocol Price To Surge Soon? Should You Buy The Dip Now appeared on BitcoinEthereumNews.com.

NEAR Protocol (NEAR) price exhibited a remarkable pullback. This week, it reverted from the channel lower trendline support of the $3 mark.  Afterward, a fresh bullish accumulation wave was triggered, and the token price jumped more than 25% this week. Influenced by the improved market sentiments and Bitcoin price resurgence, other altcoins and the NEAR token have also added gains. It noted a significant uptick. What’s Driving NEAR Protocol Price Pullback? The Aurora Ecosystem team, Aurora Labs, has brought Bitcoin Light Client and Relayer. As the team announced on Tuesday, these products are to bridge the Bitcoin Network and the NEAR protocol. Aurora Labs said the integration should enable DeFi applications and expand the Web3 mesh. Can NEAR Bulls Go Toward the $5 Mark This Week? NEAR Protocol price’s daily chart articulates a steady decline and guides a downtrend on the chart. It continued to represent the underperformance for weeks and dive below the key moving averages. Fueled by the increased supply, the token underwent a correction of over 50% and exhibited a down-move. Meanwhile, the bearish pressure has decreased, and buyers have gained traction. A daily close above the $5 mark would confirm the upward movement and may give rise to a trendline breakout. When writing, the NEAR protocol price was trading at $4.27, up over 7.24%, showing bullish moves on the chart. Per the CoinMarketCap data, the token ranked at 20 with a market cap of $2.59 Billion. It has a total supply value of 1 billion. The Moving Average Convergence Divergence (MACD) has begun to plot the green bars on the histogram, displaying bullish momentum. Likewise, the RSI line reverted from the oversold region and conveyed a positive crossover. @Waleedahmed, in his X post, mentioned that NEAR protocol price has made a butterfly pattern and the next…

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Filed under: News - @ August 16, 2024 1:10 am