NEAR Protocol

Aurora

bullish

Bitcoin

<p><strong>NEAR Protocol </strong>(<a href="https://www.thecoinrepublic.com/price-prediction/near-protocol/">NEAR</a>) price exhibited a remarkable pullback. This week, it reverted from the channel lower trendline support of the $3 mark.&nbsp;</p> 
<p>Afterward, a fresh bullish accumulation wave was triggered, and the token price jumped more than 25% this week.</p> 
<p>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.</p> 
<h2 class="wp-block-heading" id="h-what-s-driving-near-protocol-price-pullback"><strong>What’s Driving NEAR Protocol Price Pullback?</strong></h2> 
<p>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 <strong>NEAR protocol</strong>.</p> 
<p>Aurora Labs said the integration should enable DeFi applications and expand the Web3 mesh.</p> 
<h2 class="wp-block-heading" id="h-can-near-bulls-go-toward-the-5-mark-this-week"><strong>Can NEAR Bulls Go Toward the $5 Mark This Week?</strong></h2> 
<p><strong>NEAR Protocol </strong>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.</p> 
<p>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.</p> 
<p>A daily close above the $5 mark would confirm the upward movement and may give rise to a trendline breakout.</p> 
<p>When writing, the NEAR protocol price was trading at $4.27, up over 7.24%, showing bullish moves on the chart.</p> 
<p>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.</p> <iframe loading="lazy" title="Santiment Chart: Price (NEAR), Volume (NEAR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=immutable-x&amp;pt=IMX&amp;df=2024-02-14T18%3A29%3A59.819Z&amp;dt=2024-08-14T18%3A29%3A59.819Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bnear-protocol%3BNEAR%5D%3B%5B1%3Bvolume_usd%3Bnear-protocol%3BNEAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>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.</p> 
<p>@Waleedahmed, in his X post, mentioned that NEAR protocol price has made a butterfly pattern and the next bullish leg is imminent. It may project an upmove and rise to the $7 mark soon.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Oh my <a href="https://twitter.com/search?q=%24NEAR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEAR</a> is getting freaky <a href="https://t.co/XWdavih8Za">https://t.co/XWdavih8Za</a> <a href="https://t.co/ckmjMqHwZi">pic.twitter.com/ckmjMqHwZi</a></p>— Waleed Ahmed (@Waleedahmed234) <a href="https://twitter.com/Waleedahmed234/status/1823420660225618386?ref_src=twsrc%5Etfw">August 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Per the Fib retracement levels, a sustained bullish reversal could be seen ahead. This can happen if the <strong>NEAR token price</strong> crosses the 38.2% zone above the $5.30 mark.</p> 
<h2 class="wp-block-heading" id="h-weighted-sentiment-saw-an-improvement"><strong>Weighted Sentiment Saw An Improvement</strong></h2> 
<p>With the price pullback and the significant integration development with Aurora Labs, inventors have looked confident and started accumulating the NEAR token.&nbsp;</p> 
<p>It is depicted by the curve, which rose to the positive region at the 1.893 mark. It highlighted the <strong>bullish sentiment </strong>among the investors.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (NEAR), Weighted sentiment (Total) (NEAR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=immutable-x&amp;pt=IMX&amp;df=2024-02-14T18%3A29%3A59.819Z&amp;dt=2024-08-14T18%3A29%3A59.819Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bnear-protocol%3BNEAR%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bnear-protocol%3BNEAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Also, the price volatility curve saw increased volume participation and heightened futures trading activity. It replicated intense fluctuations in the past 24 hours.</p> 
<h2 class="wp-block-heading" id="h-social-metrics-witnessed-an-uptick"><strong>Social Metrics Witnessed An Uptick</strong></h2> 
<p>Fueled by the demand resurgence, investors have been looking for opportunities to ride the pullback. They have started chattering and engaging in online discussions, reflecting the media buzz for NEAR.</p> <iframe loading="lazy" title="Santiment Chart: Social Dominance (NEAR), Development Activity (NEAR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=immutable-x&amp;pt=IMX&amp;df=2024-02-14T18%3A29%3A59.819Z&amp;dt=2024-08-14T18%3A29%3A59.819Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_dominance_total%3Bnear-protocol%3BNEAR%5D%3B%5B1%3Bdev_activity%3Bnear-protocol%3BNEAR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Amid the price bounceback, the development activity curve was still close to the zero line. It signified neutral growth projections.</p> 
<p>The ongoing market recovery could push NEAR token price toward the $5 mark in the next sessions. Currently, NEAR bulls are trying to sustain above the 20-day EMA mark for a smooth upward move ahead.</p> 
<p>Still, the token continued to project the lower low formations and was capped inside a falling wedge pattern. Until the token crosses the barrier of $5, it might continue to display range-bound moves ahead.</p> 
<p>Notably, the Futures traders anticipated a next bullish leg up and began to make fresh long positions in it. Hence, the Open Interest (OI) rose over 6.17% to $125.44 Million in the last 24 hours.</p> 
<p>The immediate support levels for the <strong>NEAR token</strong> are $4.00 and $3.6, whereas the key upside hurdle is around $5.00, followed by $5.40.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/15/near-protocol-price-to-surge-soon-should-you-buy-the-dip-now/">NEAR Protocol Price To Surge Soon? Should You Buy The Dip Now</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

NEAR Protocol Price To Surge Soon? Should You Buy The Dip Now

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