Coin

Since April, NEAR Coin has reached its highest level, showing signs of renewed vitality. It was one of the altcoins most affected by the FTX collapse. Like Solana, the NEAR team also received significant investment from FTX, which led to heavy sell-offs. However, now that it has passed the $2 mark again, investors seem hopeful.
<h2 id="near-coin-commentary">NEAR Coin Commentary</h2>
<a href="https://en.coin-turk.com/bitcoins-current-surge-feels-different-says-fund-manager/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price at the time of writing stands at $43,800, exciting investors who were recently watching the levels between $25,000 and $28,000. Bitcoin’s price rose much faster than expected above $31,800. Amidst this rise, NEAR Coin’s price is also recovering.
In October, when the major crypto uptrend began, NEAR Coin broke through the 440-day resistance. Breakouts from long-term resistances are often followed by parabolic rallies. Since the breakout, the upward movement has been rapid and the significant horizontal resistance zone has also been reclaimed.
<img decoding="async" class="wp-image-285586 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/NEAR-Coin-Grafik-1.png" alt="" width="1101" height="451">
After creating a bullish divergence in the RSI, the price increased, and the current outlook suggests that the rally could continue. New peaks could be possible if <a href="https://en.coin-turk.com/bitcoin-price-drops-again-analysts-and-a-report-speak-to-investors-a%c2%80%c2%93-this-is-the-situation/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> does not start a significant and sudden loss series.
<h2 id="near-coin-price-prediction">NEAR Coin Price Prediction</h2>
Similar to the weekly chart, the daily chart also shows a dominant bullish sentiment. The RSI supports the rally, and demand is lively. Despite the rejection in the chart, the price confirmed its steady rise after recovering from the 0.618 Fibonacci retracement resistance level on December 4th.
<img decoding="async" class="wp-image-285588 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/NEAR-Coin-Grafik-3.png" alt="" width="1164" height="475">
Popular cryptocurrency analyst ZaykCharts appears confident about testing higher levels in the future. According to him, the breakout seen in the descending channel has clearly started a major uptrend.
Analyst Osbrah agrees with him. Sharing a shorter-term chart, the analyst is in agreement regarding the uptrend. If NEAR continues its upward movement, prices could increase by an additional 15% and we might see the $2.70 horizontal resistance area being surpassed.
<img decoding="async" class="wp-image-285587 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/theOsbrah-Near-Coin-Analiz.jpeg" alt="" width="1163" height="560">
However, despite the strong bullish sentiment and analyst opinions, if the NEAR Coin price closes below the support level of $2.13, the trend could reverse. In that case, the targeted retracement point would be $1.8.
The risk of support loss in a potential BTC correction should not be neglected. BTC has often seen corrections with double-digit losses after such rapid increases. Continue Reading: <a href="https://en.coin-turk.com/near-coin-shows-signs-of-revival-amidst-market-turbulence/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/near-coin-shows-signs-of-revival-amidst-market-turbulence/</a>

NEAR Coin Shows Signs of Revival Amidst Market Turbulence

Table of Contents

COINTURK NEWS

Other articles published on Dec 6, 2023

Breaking: Societe Generale Launches Euro Stablecoin For Mass Crypto Trading

Solana sells just 2,500 Saga phones, chief hints your iPhone should stay

Will the Bitcoin Price Continue to Rally in 2024? Analyst Answers

Ethereum can surge to $3,100; InQubeta on bullish path

Bitcoin ordinals cause commotions amid congestion issues

This Altcoin on Binance Soared 100 Percent Yesterday! Taking advantage of the rise, Whale started...

Join our free newsletter for daily crypto updates!