Convergence

Bittensor

Bitcoin

Resistance

Divergence

The post <a href="https://coinpedia.org/price-analysis/bittensor-tao-near-price-lead-market-recovery-eyes-to-surge-25-more/" rel="noopener noreferrer nofollow">Bittensor (TAO) &amp; NEAR Price Lead Market Recovery, Eyes To Surge 25% More?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the price of Bitcoin holding its value above the $60,000 mark, the crypto market has displayed a stable price movement for the first time over the past few days. This indicates a rising bullish sentiment in the crypto space.
Moreover, altcoins continue recording significant uptrends, with many tokens experiencing a double-digit surge daily. With the current price sentiments, is this the last chance to stack more altcoins for the upcoming bull run?
In this article, we have covered the price action and possible short-lived price targets of the Bittensor (TAO) and Near Protocol (NEAR) crypto tokens for the upcoming week.
<h2 class="wp-block-heading" id="h-near-protocol-price-displays-increased-bullish-action">Near Protocol Price Displays Increased Bullish Action</h2>
Amid increased buying pressure, the <a href="https://coinpedia.org/price-prediction/near-protocol-near-price-prediction/" rel="noopener noreferrer nofollow">Near Protocol price</a> has added 6.57% to its portfolio within the past day with a trading volume of $224.68 million. Furthermore, it has jumped 14.86% in the past week and has secured the 20th position with a market cap of $5.130 billion.
<figure class="wp-block-image"><img decoding="async" width="1433" height="755" src="https://image.coinpedia.org/wp-content/uploads/2024/08/23182007/image-408.png" alt="NEAR Price Analysis 23 aug 2024" class="wp-image-342042" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/23182007/image-408.png 1433w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182007/image-408-300x158.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182007/image-408-1024x540.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182007/image-408-768x405.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182007/image-408-150x79.png 150w" sizes="(max-width: 1433px) 100vw, 1433px">
</figure>
The Moving Average Convergence Divergence (MACD) has displayed a constant rise in the green histogram in the 1D time frame. This highlights an increase in the bullish sentiment for the NEAR price in the market.
If the bulls break out of the resistance level at $4.925, the Near Protocol price will prepare to test its upper resistance level of $6.225. On the flip side, if the bears regain momentum, this altcoin will plunge toward its low of $3.70 in the coming time.
<h2 class="wp-block-heading" id="h-bittensor-price-breaks-out-of-its-important-resistance-level">Bittensor Price Breaks Out Of Its Important Resistance Level</h2>
Despite increased market volatility, the <a href="https://markets.coinpedia.org/bittensor/" rel="noopener noreferrer nofollow">Bittensor </a>price has continued to display bullish action by adding approximately 10% within the past day and over 25% during the last seven days. Notably, it has rewarded its long-term investors with a YTD return of 27.12%.
<figure class="wp-block-image"><img decoding="async" width="1430" height="757" src="https://image.coinpedia.org/wp-content/uploads/2024/08/23182008/image-409.png" alt="TAO price analysis 23rd aug 2024" class="wp-image-342043" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/23182008/image-409.png 1430w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182008/image-409-300x159.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182008/image-409-1024x542.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182008/image-409-768x407.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/23182008/image-409-150x79.png 150w" sizes="(max-width: 1430px) 100vw, 1430px">
</figure>
The Relative Strength Index (RSI) has successfully surpassed the midpoint and has displayed a sharp rise toward the overbought range. Moreover, the Cross EMA 50/200-day is on the verge of recording a Golden Cross in the 1D time frame. This suggests a positive outlook for the Bittensor crypto in the coming time.
Maintaining the price above its support level of $326 will set the stage for the TAO price to head toward its resistance level of $437.5 during the upcoming weeks. Conversely, a bearish action could result in it retesting its crucial support level of $212.

Bittensor (TAO) & NEAR Price Lead Market Recovery, Eyes To Surge 25% More?

Table of Contents

CoinPedia News

Other articles published on Aug 23, 2024

Bitcoin Miners Face $74 Billion Opportunity as Reserves Surge

World’s First Crypto-Themed Immersive Theater, Decode: Legacy, Hosted by HashKey Capital, Aethir ...

How to DeFi on Sui

Polymath Price Prediction 2024, 2025, 2030: Is POLY A Good Investment?

BTC Price Continues to Close Above $60,000

Powell’s Speech Lifts Bitcoin Prices

Join our free newsletter for daily crypto updates!