Near Protocol Price Prediction: NEAR pumps 10% as investors envision another buy opportunity here
Source Fxstreet
- Near Protocol price is up almost 10% as sidelined and late traders join investors in looking for the next entry.
- NEAR could provide another buying opportunity at the 50% Fibonacci retracement level of $3.34.
- A break and close below the 50-day SMA at $3.13 would invalidate the bullish thesis.
Near Protocol (NEAR) price is trading with a bullish bias, with a sustained series of higher highs since the last week of January. With investors groping for discounted entry points, NEAR could correct before the next leg up.
Also Read: Near Protocol Price Forecast: NEAR kicks starts its 100% bounce
Near Protocol price to provide another buying opportunity
Near Protocol (NEAR) price is up almost 10% to trade for $3.73 at press time, with early profit booking already underway indicted by the Japanese red candlestick on Sunday.
With the Relative Strength Index (RSI) dropping, signifying falling momentum, Near Protocol price could drop a maximum of 10% to provide another buy opportunity around the 50% Fibonacci retracement level of $3.34.
The Moving Average Convergence Divergence (MACD) indicator remains above its signal line (orange band), with its histogram bars flashing green in positive territory, suggesting the prevalence of a bullish cycle.
NEAR/USDT 1-day chart
On the other hand, if the Near Protocol price descends below the 50-day Simple Moving Average (SMA) at $3.13, it would not only invalidate the bullish thesis, but also clear the clog for an extended fall.
The next likely support would be due to the 100-day SMA at $2.91, or in a dire case, extend to the foot of the market range at $2.06, levels last tested on December 18.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant.
The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
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