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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-nears-market-movement/" data-wpel-link="internal">Analyst Predicts NEAR’s Market Movement</a><br></p>
<p style="text-align: justify">While discussions about the start of the altcoin rally in cryptocurrencies continue, Bitcoin’s rise persists. Amidst all this, a famous cryptocurrency analyst believes that one of the cryptocurrencies, considered a competitor to <a href="https://en.coin-turk.com/valkyrie-applies-for-ethereum-futures-exchange-traded-fund-etf/" data-wpel-link="internal">Ethereum</a> (ETH), is following in the footsteps of a meme coin that has recently broken records.</p> 
<h2 style="text-align: justify" id="analyst-s-pepe-and-near-commentary">Analyst’s PEPE and NEAR Commentary</h2> 
<p style="text-align: justify"><strong>Credible</strong>, an analyst, made significant statements on the social media platform X. The analyst noted that the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> outlook of the layer-1 protocol Near (NEAR) resembles that of the meme coin <strong>Pepe</strong> (PEPE), which surpassed its all-time high once again in the last 24 hours.</p> 
<blockquote> 
 <p>It looks the same as PEPE, and with my expectation of some relief across the board here, I think the dips are to be bought targeting the highs. As of last night, I am in a long position.</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-351913" src="https://coin-turk.com/wp-content/uploads/2024/05/pepe-near-coin-turk-com.png" alt="" width="1033" height="516"></p> 
<p style="text-align: justify">Looking at the trader’s shared chart, it is seen that the failure of NEAR to drop to the $5.72 region initiated a move targeting $9. As of the time of writing, NEAR is finding buyers at $8.03, meaning it is 15% short of reaching Credible’s target.</p> 
<p style="text-align: justify">However, while Credible continues to reflect his bullish expectation for <strong>NEAR</strong>, he also notes that his comments do not cover Pepe and other high-volume altcoins. The analyst believes that Pepe and high-volume altcoins are heading towards a significant <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> correction, while market participants are reallocating their capital to sustain Bitcoin’s (BTC) next upward move.</p> 
<blockquote> 
 <p>Pepe and major altcoins = a distribution top in my opinion, leading to eventual collapses in a volatile environment. Bitcoin = a reaccumulation range in my opinion, leading to an eventual breakout towards $100,000 in a volatile environment.</p> 
</blockquote> 
<h2 style="text-align: justify" id="how-much-is-1-bitcoin-now">How Much is 1 Bitcoin Now?</h2> 
<p style="text-align: justify">While all this is happening, attention was also on Bitcoin, the number one cryptocurrency in the market, alongside PEPE. Bitcoin is trading at $66,085 after a 7.66% rise today.</p> 
<p style="text-align: justify">Bitcoin’s market cap surpassed $1.3 trillion again after a similar percentage increase, crossing the critical threshold once more. A more significant growth was noted in the 24-hour trading volume. BTC’s trading volume increased by 48%, surpassing $40.8 billion, highlighting investor interest once again.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-predicts-nears-market-movement/" data-wpel-link="internal">Analyst Predicts NEAR’s Market Movement</a></h5>

Analyst Predicts NEAR’s Market Movement

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