NEAR Protocol

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/near-price-may-surge-above-9" rel="noopener noreferrer nofollow">NEAR Price May Surge Above $9</a><br></p>
<p style="text-align: justify">Near Protocol (NEAR) is on the brink of a significant price surge if it manages to break through a crucial resistance level. Investors and <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">market</a> analysts are eyeing potential bullish trends as NEAR holders anticipate an upward price trajectory.</p>
<h2 id="why-is-near-s-funding-rate-important">Why is NEAR’s Funding Rate Important?</h2>
<p style="text-align: justify">NEAR’s bullish sentiment is supported by <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a> anticipating price hikes over the past month. The increase in open positions, which surpassed $100 million in contracts last month, points to heightened market activity. A positive funding rate signals that long-term contracts may dominate, suggesting a favorable outlook.</p>
<p style="text-align: justify">The rise in open interest is seen as a potential indicator of a price increase. Additionally, the altcoin’s Relative Strength Index (RSI) is also showing support from the broader market. The RSI, a momentum oscillator that measures price movement speed and change, currently stands in the bullish zone above 50.0, indicating a positive trend.</p>
<h2 id="what-does-the-ascending-triangle-indicate">What Does the Ascending Triangle Indicate?</h2>
<p style="text-align: justify">NEAR’s price, currently at $7.1, is trading within an ascending triangle. This pattern, characterized by a horizontal resistance line and an upward sloping trend line, often signals a bullish continuation. A breakout above this resistance could propel NEAR towards a target of $9.9, marking a potential 31% increase.</p>
<p style="text-align: justify">If the bullish conditions persist, a breakout above $7.7 could see NEAR’s price rise above $8.0. Conversely, a break below the upward trend line could lead to a decline, dragging the altcoin down to $6.5, thus negating the bullish outlook.</p>
<h2 id="actionable-insights-for-investors">Actionable Insights for Investors</h2>
<p style="text-align: justify">Investors should consider the following actionable insights:</p>
<ul>
 <li>Monitor NEAR’s funding rate to gauge market sentiment.</li>
 <li>Watch for a breakout above $7.7 for a potential bullish signal.</li>
 <li>Be cautious of a decline if NEAR falls below the upward trend line.</li>
 <li>Use the RSI as an additional indicator to assess overbought or oversold conditions.</li>
</ul>
<p style="text-align: justify">In conclusion, NEAR Protocol shows potential for a bullish trend, contingent on breaking key resistance levels. Investors should closely monitor market signals to make informed decisions.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/near-price-may-surge-above-9" rel="noopener noreferrer nofollow">NEAR Price May Surge Above $9</a></h5>

NEAR Price May Surge Above $9

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