NEAR Protocol (NEAR) Breaks Through Resistance, Aims For $7.685 Amid Strong Uptrend

World Of Charts, a prominent crypto analyst, recently highlighted a significant development with NEAR Protocol (NEAR). According to their analysis, NEAR has successfully broken out of a falling wedge pattern and has gained nearly 8% since the breakout. Despite this promising start, NEAR still has a long way to go to reach its full potential.

The cryptocurrency market is bullish, mainly due to Bitcoin’s price surge. This has created a positive environment for altcoins like NEAR to rally. Bitcoin’s optimism is benefiting other cryptocurrencies, including NEAR, which are also seeing gains.

Adding to the market excitement is the launch of Ethereum Exchange-Traded Funds (ETFs) on July 23rd. This significant event is expected to boost the altcoin market further, attracting new investors and increasing demand for altcoins.

NEAR’s recent breakout has captured the attention of market watchers. Technical chart patterns and favorable conditions suggest potential further gains. Investors should closely monitor developments and trends to make informed decisions.

NEAR Breaks Resistance, Aims $7.68

More Crypto Online’s latest price analysis suggests NEAR Protocol (NEAR) may have completed its wave ii/b, hitting the 100% extension level at $4.03. However, the chart’s current structure is now somewhat ambiguous.

A key observation is that the recent rally from its low point formed a three-wave move, potentially evolving into a five-wave move, indicating a possible micro 1-2 setup that warrants close attention.

In the last 24 hours, NEAR surged over 6%, marking a 37% increase over the past week. Currently trading at $6.40, NEAR’s Protocol is 17th in the cryptocurrency rankings with a market cap of $6.6 billion, reflecting growing investor interest.

NEAR’s has broken out of the descending triangle’s resistance trendline, surpassing the critical upper resistance level at $6.225. A sustained move above this level could target $7.685 in the coming weeks, indicating a promising outlook.

The breakout signifies growing investor confidence, and upcoming price movements will be crucial for NEAR’s Protocol’s trajectory. Market participants should closely watch the unfolding trends and potential micro 1-2 setup for future gains.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.