Near Protocol Price Forecast: NEAR leads recovery, eyes 100% upswing

Source Fxstreet
  • Near Protocol price has registered a 21% recovery rally after retesting the $2.57 to $2.70 resistance level.
  • Investors can expect this bounce to continue until it retests the $5.87 weekly hurdle. 
  • A decisive three-day candlestick close below $2.57 will invalidate the bullish thesis for NEAR. 

Near Protocol (NEAR) price shows strong signs of buying pressure as it leads the recovery rally with a 21% upswing in the last three days. The bounce off a key support level could lead to massive gains in the next few days. 

Also read: Bitcoin price decline triggers nearly $83 million in liquidations, BTC price recovers from drop below $39,000

Near Protocol price ready to bounce 

Near Protocol price breached the $2.57 to $2.70 resistance zone on December 18, 2023. This breakout was followed by a 62% rally, which led to a local top formation at $4.63. As the broader cryptocurrency market suffered a 47% sell-off, NEAR retested the recently flipped hurdle into a support floor. 

Despite the short-term correction, Near Protocol price has recovered quickly and rallied 21% in the last three days and currently trades at $2.96. The three-day Relative Strength Index (RSI) is bouncing off the 50-mean level, which adds credence to the continuation of the bounce.

The Awesome Oscillator is in the positive region and is close to retesting its mean level at zero and restarting the bullish momentum. 

Going forward, investors can expect Near Protocol price to kickstart a 100% rally to the next key weekly resistance level of $5.87. 

Read more: Near Protocol price consolidation hints NEAR could retest $6.50 soon

NEAR/USDT 3-day chart

NEAR/USDT 3-day chart

On the other hand, if the Near Protocol price fails to hold above the $2.57 to $2.70 support level, it would denote a weakness in buying pressure. This outlook could occur due to another sell–off in Bitcoin price, which could collectively cause massive liquidations in altcoins. 

In such a case, NEAR could slide 31% to retest the next critical support level at $1.76. 

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Who Can Challenge TSMC? Q1 Net Profit Jumps 58% Year-on-Year, AI Demand Becomes Biggest Driver On April 16, TSMC ( TSM) reported its first-quarter 2026 financial results, with core financial metrics exceeding market expectations across the board and profitability achieving a breakt
Author  TradingKey
12 hours ago
On April 16, TSMC ( TSM) reported its first-quarter 2026 financial results, with core financial metrics exceeding market expectations across the board and profitability achieving a breakt
placeholder
AUD/USD climbs above 0.7170 as truce hopes lift risk appetiteThe Australian Dollar extended its gains on Wednesday, up by 0.72% as risk appetite improved amid speculation of a de-escalation of the conflict, keeping oil prices in check as WTI held above $91, despite posting losses of nearly 0.80%. At the time of writing, the AUD/USD trades at 0.7173.
Author  TradingKey
21 hours ago
The Australian Dollar extended its gains on Wednesday, up by 0.72% as risk appetite improved amid speculation of a de-escalation of the conflict, keeping oil prices in check as WTI held above $91, despite posting losses of nearly 0.80%. At the time of writing, the AUD/USD trades at 0.7173.
placeholder
Nasdaq Index Rises for 10 Straight Days, Why Has Tesla Barely Risen?On April 14, the Nasdaq notched its tenth consecutive session of gains, marking its longest winning streak since 2023. It has risen nearly 14% from its recent lows, as the 'Magnificent Se
Author  TradingKey
Yesterday 10: 25
On April 14, the Nasdaq notched its tenth consecutive session of gains, marking its longest winning streak since 2023. It has risen nearly 14% from its recent lows, as the 'Magnificent Se
placeholder
Gold eases from four-week top as Hormuz risks temper USD weaknessGold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day.
Author  FXStreet
Yesterday 07: 33
Gold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day.
placeholder
Silver Price Forecasts: XAG/USD approaches $78.00 boosted by Iran peace hopesSilver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.
Author  TradingKey
Apr 14, Tue
Silver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.
goTop
quote