The cryptocurrency market continues its steady recovery following eased tensions in international relations. Ethereum and Near Protocol are demonstrating signs of growth, attracting trader attention.
Cryptocurrency Market Recovers
The cryptocurrency market has shown signs of gradual recovery after reduced tensions between Israel and Iran. Ethereum (ETH) has notably strengthened, rising from a recent low of $2,113 to nearly $2,425, prompting a positive sentiment among traders.
Analysis of Near Protocol
Near Protocol (NEAR) is also demonstrating positive results and generating interest in the market. The token is currently showing a fractal pattern similar to the recent breakout seen in SEI. Like SEI, which was trading inside a falling wedge pattern, NEAR is also consolidating while testing resistance below the 100-day moving average.
What to Expect from Near Protocol in the Future?
If NEAR can break above the falling wedge and close above the 100-day moving average, it may pave the way for a sharp price increase, with the $3.37 level (200-day moving average) being the next major target. However, bulls should remain cautious, as a failed breakout may signal further consolidation or delay in bullish momentum.
The cryptocurrency market is showing positive signs of recovery, but traders should remain vigilant and monitor Near Protocol's movements for potential further growth.
