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The post <a href="https://coinpedia.org/price-analysis/near-protocol-decoupling-with-market-sentiments-near-price-eyes-an-8-rise-in-the-next-24-hours/" rel="noopener noreferrer nofollow">Near Protocol Decoupling with Market Sentiments: NEAR Price Eyes an 8% Rise In the Next 24 Hours</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The Near Protocol price has been demonstrating acute strength ever since the token rebounded from the monthly lows below $5. In times when the selling pressure was mounting over the majority of the tokens, the <a href="https://coinpedia.org/price-prediction/near-protocol-near-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">NEAR price</a> managed to stabilize within a narrow range, preventing excessive loss. The bulls are displaying huge strength at the moment, due to which the rally has been stuck between $5 and $5.3 for the past few days.&nbsp;
The price was trading within an ascending triangle and instead of triggering a breakout from the apex, it underwent a 40% pullback. While the long-term price action of Bitcoin has turned bearish, the NEAR price remains under the bullish influence. The price undergoes a correction after reaching the upper threshold of a pattern. Therefore, the price is expected to kick off a fresh ascending trend and reach the upper resistance zone.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXe_0VU7lgrx76kVSKkZNf4AecA2z6mEV1QTgfpCM6aVoY6eYcvjKKCenm0m_8jT_GHUhTHsOmzfLevAMYxcjr2V5VKyWC4AxRhAGtMrsnaFoS7sF8JOaDN07iiDmuw5NmMhLpodnG7tvmK5s6jGRqhNhbYb?key=dJWypoEytafuoxIZ1v6pgg" alt="">
</figure>
While the short-term trade has flipped the bearish pressure, the weekly trade has also shown signs of a bullish reversal. The rally was rising within a rising wedge and as a result, this caused a 35% pullback and, before marking the lower crucial range at $4.5, triggered a strong rebound. Besides, the weekly RSI has also initiated a bullish reversal, which suggests the bullish forces have regained their strength. Therefore, the NEAR price is expected to maintain a healthy ascending trend.&nbsp;
The weekly trade has begun on a bullish note and hence the upcoming monthly close is expected to be on a positive note. The price is closely accumulating within a range and hence a breakout may occur, pushing the prices above $6 very soon. However, before the end of the month, the Near Protocol price is believed to stand strongly above $5.5 after experiencing a minor correction.&nbsp;

Near Protocol Decoupling with Market Sentiments: NEAR Price Eyes an 8% Rise In the Next 24 Hours

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