Near Protocol (NEAR) Hits a Two-Year High

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Price action in the Near Protocol market has been able to reach a price level last seen in the year 2022. Consequently, this signifies that the token’s price has surged to a two-year high. Furthermore, the market outlook suggests that the token’s price may continue to approach near but higher price levels. Let’s delve deeper into this, shall we?

Near Protocol Statistics:
Current NEAR Value: $7.337
NEAR Market Cap: $7,945,414,115
Near Protocol Circulating Supply: 1,065,920,960
NEAR Total Supply: 1,187,733,971
Near Protocol CoinMarketCap Rank: 17

Key Price Levels:
Resistance: $7.400, $7.750, and $8.00
Support: $7.300, $7.100, and $6.900

Near Protocol Sets Its Sights on the $8.00 Mark

As earlier mentioned, the NEAR token has reached a two-year high, and considering the current market forces, it’s logical to opine that the token’s price may rise even higher. The ongoing session has already presented some significant gains, amounting to 4.40% at the time of writing.

Although the market appears fairly volatile, with trading activity persisting above the Guppy Moving Average (GMMA) curves, the latest price candle suggests that upside forces have encountered some resistance during today’s trading session. Nevertheless, the Stochastic Relative Strength Index (SRSI) lines are still in the overbought region, maintaining an upward trajectory. This indicates that the market has its sights set on higher levels.

Upside Forces in the NEAR Market Seem to Be Gaining More Momentum

A closer look at the Near Protocol 4-hour price chart sheds more light on the ongoing market dynamics. Upon closer inspection, it becomes evident that the price of the coin has indeed increased. Although the last price candle appears as a small red one, indicating a contraction over time, it remains above the GMMA indicator lines.

Additionally, the market has been establishing higher highs recently. The SRSI lines continue to maintain a steady upward path as they enter the overbought region. This suggests that traders may want to consider bullish crypto signals in the interim, as the market could extend its upside correction towards the $8.00 mark.

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