The price of NEAR Protocol's token recently broke through a key resistance level and continues to show a bullish trend. Let's explore what could be the next step for NEAR.
Breakout from Descending Channel
After several months of trading within a descending channel, the price of NEAR Protocol has broken out. A retest of the channel was observed initially, followed by continued upwards movement, resulting in over a 20% growth in the past two days.
Key NEAR Price Levels to Watch
Key levels to watch include $5.00, $5.70, $6.40, and $7.10. Breaking these levels could facilitate further price growth, while failure to do so may lead to a retest of previous supports. Specifically, the $5.00 level was identified as a new support, which is crucial for maintaining upward price movement.
Future Growth Prospects of NEAR
The current bullish trend of NEAR suggests that the price could reach around $8.20 if the bullish momentum continues. It's important to consider that the price rise will likely involve a series of ups and downs as it encounters key resistance and support levels.
The price of NEAR Protocol has made a significant breakout and shows potential for further growth. Monitoring the key price levels will be crucial in determining the future direction of the price.
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