The price of NEAR Protocol native token has been on an upward trajectory recently, with a crypto analyst projecting further price hikes and proposing that the coin could witness a surge to more than $10 soon.
NEAR Protocol Poised for $10 Surge
Renowned crypto trader and analyst, identified as Bluntz on X (formerly Twitter) has unveiled a significant price prediction for NEAR. The analyst revealed that the value of NEAR is displaying historical patterns indicative of a bullish rally, potentially surpassing $10.
Bluntz, an anonymous analyst known for his remarkably precise prediction of Bitcoin (BTC) in June 2018, forecasted that the value of BTC would hit a bottom out at $3,200 after reaching an all-time high of $20,000 at that time. True to his foresight, Bitcoin dropped to around the projected price target by December of the same year. Now, employing technical analysis based on the Elliott Wave principle, Bluntz has shared a price chart displaying NEAR protocol’s potential rally to over $10.
$near turbo sends here imo pic.twitter.com/4o28UEsfE1
— Bluntz (@Bluntz_Capital) April 3, 2024
The Elliott Wave theory, crafted by Ralph Nelson Elliott, is a technical methodology that analyzes recurring and long-term price patterns related to persistent changes in investor sentiment and psychology. This technical tool is utilized to forecast the price movements of cryptocurrencies based on greed and fear.
NEAR Price Movements
Bluntz provided two charts depicting NEAR Protocol’s price movements against Tether (USDT) and another against Bitcoin. NEAR Protocol had undergone a series of price fluctuations, oscillating between green and red zones before displaying strong price fundamentals that could potentially propel its value above $10. The crypto analyst has identified a projected timeline for this price surge around mid-April, specifically before the 15th.
Over the past month, the value of NEAR Protocol has been on a steady upward trend, boasting an impressive 26% increase. Moreover, the cryptocurrency’s total market capitalization has risen by over 6%, accompanied by a 25% increase in its 24-hour trading volume.
At the time of writing, NEAR Protocol is trading at $7.09, reflecting a significant increase of 5.89% in just one day, according to CoinMarketCap. These developments highlight the increasing appeal and demand for the popular token within the dynamic crypto space.
Co Founder Response
I want to give a huge shout out to @BowenWang18 and everyone working on NEAR Protocol.
NEAR network has went through an amazing growth over past 3 months, which led work group to add 2 more shards (4 => 6) increasing capacity by 50%.
NEAR saw pick up in utilization as part of… pic.twitter.com/79RMpOVsjD
— Illia (root.near) (🇺🇦, ⋈) (@ilblackdragon) April 6, 2024
Illia Polosukhin, co-founder of NEAR Protocol, has also commended the NEAR team’s consistent efforts in maintaining the cryptocurrency’s steady growth and development over the past few months.
Polosukhin noted that due to the team’s dedication, NEAR Protocol’s capacity has surged by 50%, ensuring a more effective network to serve users.
