
Altcoin NEAR sits at a major support level.
Can the popular asset reclaim higher prices soon?
Analysts expect a major rally to $9, $11, and $30.
The crypto market has seen a decent dip in prices despite prices holding support fairly well following the $6.3 billion Binance hack about a week ago. Since then, BTC and ETH dipped by a significant amount and have yet to reclaim the respective support levels that they lost. So far, several altcoin assets have also followed the same pattern and many are preparing to reclaim higher prices. In detail, altcoin NEAR sits at a major support level.
Altcoin NEAR Sits at a Major Support Level
According to CoinMarketCap analytics, the price of NEAR is currently trading at the $3.69 price range, showing that the asset is down by over 1.3% in the last 24 hours. As for the last 7 days, the asset is down by over 15% and in the last 30 days, NEAR price is down by over 23%. This is disheartening to see, especially because the asset had experienced a surge of over 100% just before this dip.
https://twitter.com/Karman_1s/status/2119062800408731839
At the moment, analysts notice that the price of NEAR is trading at a major support range. This means that if the support range holds despite the latest dip that brought the price of NEAR down from almost retaking prices above $6 back towards the $3 price range, then the asset could rebound quickly to not only reclaim the $5 - $6 price range, but to likely go on to reclaim much higher prices, starting with the $9 bull target.
For weeks analysts have been discussing and debating the high possibility for NEAR to outperform most altcoin assets in the space. To highlight, NEAR is a highly popular altcoin that has consistently maintained strong performance across its blockchain. Its recent AI features has only improved its ecosystem, leading to many hopes for a promising rise to previous ATHs at the least when altseason arrives.
Can NEAR Recover Higher Prices and Surge?
Another prominent crypto trader and reputed crypto analyst goes on to state that the current NEAR price chart is showing heavy signs of an explosive run. In fact, the expert goes on to state that the chart looks similar to the time when the price of ZEC went on to surge from $500 to $1700. He states that both assets rallied hard, stalled, and then continued to run once the market recovered. Now, he expects NEAR to hit double digit prices soon.
https://twitter.com/EmilioBojan/status/2119166838730818041
In the same line, the analyst in the post above also mentions that NEAR is at a good support line, and that after trading around $5.6, NEAR is looking at another promising opportunity. He says that market sentiment is good as NEAR bulls are ready with longs set to go parabolic as funding rates seem to be in sync. He concludes saying that all that's left is an explosive volume and a rise in interest that could push NEAR to $11 and $30 bull targets.
