NEAR Protocol Price Analysis: NEAR Coin Price May Soon Hit A New High In The Future

• NEAR coin price is currently observing a strong upside momentum and can soon observe a new high. It has seen a gain of more than 37% in the intraday session.
• Technical indicators of NEAR protocol  hints towards a strong upside momentum in price. Meanwhile, the NEAR/BTC pair can also observe a strong upside momentum in future

NEAR coin price is currently ranked 52nd in the CMC and has a market dominance of more than 0.13%. The volume of the Near protocol along with the market cap has also observed a significant rise in the past few weeks. The volume to market capitalization ratio of the NEAR suggests a strong upside momentum in the price. The token price may soon observe a strong upside momentum in the future.

Why Invest In NEAR Coin?

NEAR coin price is currently observing a strong upside momentum and can soon see a new high. It is currently trading near the value of $6.7 and has seen a gain of more than 13% in the intraday session. The Protocol is a decentralized network  designed to make apps usable on the web server. The blockchain runs on the Proof-of-Stake (PoS) mechanism known as Nightshade. It aims to offer scalability and stable fees for the transaction for the general public. NEAR Protocol has launched its main net on April 22, 2020, with a 1 billion coin created at the inception. NEAR token price has observed a gain of more than 6X within a five months period.One can invest in NEAR protocol as per their risk capacity and price action.

Technical Indicator Of NEAR Coin Price Suggest A Strong Upside Momentum 

Near Protocol’s weekly technical chart suggests a strong upside momentum for the price in future. On the daily chart, NEAR coin price is observing a weak bullish momentum in the price. The price is currently trading above the 50 and 100 Daily Moving Average. There is a positive crossover in the price which can push the price to a new high. The 100 DMA  line is near the value of $3.8 making it a temporary support of the price. The bullish momentum of the NEAR coin might face a resistance near the value of $8.5. Meanwhile, a bounceback may be seen near $4. The NEAR/BTC pair can also see a new high in the upcoming days.

Conclusion

NEAR coin price is currently observing a strong upside momentum and can soon see a new high. NEAR/BTC pair can also observe a new high in the future. 

Technical Levels

Major Support:$4

Major Resistance:$8.5

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