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NEAR Coin, which has reached its highest level since April, is showing signs of revival. It was one of the altcoins most affected by the FTX collapse. Similar to Solana, the NEAR team also received significant investment from FTX, which led to heavy sell-offs. However, now that it has surpassed the $2 mark again, investors are looking hopeful.
<h2 id="near-coin-commentary">NEAR Coin Commentary</h2>
<a href="https://en.coin-turk.com/two-on-chain-indicators-support-the-expectation-of-a-rise-in-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price was at $43,800 at the time of writing, exciting investors who had been watching the $25,000-$28,000 range not long ago. The Bitcoin price rose above $31,800 much faster than expected. Amidst this rise, the NEAR Coin price is also recovering.
In October, at the start of the major cryptocurrency rally, NEAR Coin broke through its 440-day resistance. Breakouts from long-term resistances often lead to parabolic rallies. The movement has been swift since the breakout, and a significant horizontal resistance area has 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 on the RSI, the price increased and the current outlook suggests the rally could continue. If <a href="https://en.coin-turk.com/is-bitcoin-still-a-good-investment-despite-the-economic-crisis-in-the-us/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> does not start a serious and sudden loss streak, new peaks are possible.
<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 on the chart, the price confirmed a stable 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 initiated a major uptrend.
Analyst Osbrah also confirms this view. Sharing a shorter-term chart, the analyst agrees on the upward trend. If NEAR continues its upward movement, the price could rise by an additional 15% and surpass the horizontal resistance area at $2.70.
<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 $1.80.
The risk of support loss in a potential BTC correction should not be overlooked. 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-after-reaching-highest-level-since-april/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/near-coin-shows-signs-of-revival-after-reaching-highest-level-since-april/</a>

NEAR Coin Shows Signs of Revival After Reaching Highest Level Since April

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