NEAR Protocol has once again captured the attention of traders due to the formation of a familiar technical model that may signify substantial price growth.
Current Market Analysis of NEAR
Analyst Master Ananda noted that NEAR is entering a phase comparable to the previous bull cycle, when the price surged over 800%. He believes that the current price structure shows a repetitive sequence: a sharp rise, a prolonged correction, a reversal pattern, and the potential for a new bullish wave.
Developments in the NEAR Ecosystem
The development of the NEAR ecosystem is also optimistic. Specifically, validators are voting to decrease the annual inflation rate from 5% to 2.5%, which could reduce daily supply by 17,123 NEAR. Additionally, the NEAR Foundation is deepening its presence in the AI sector, allowing for automation of processes such as trading and cross-chain operations.
Technical and Economic Aspects of NEAR
From a technical analysis perspective, NEAR's behavior is akin to other significant assets like BTC and ETH, which also show positive signs. Qualitative changes within NEAR's economy, along with favorable market trends, sustain interest in the asset.
The potential of NEAR Protocol in the cryptocurrency market appears promising due to stable technical models and active ecosystem development. Investors and analysts are closely monitoring the asset's next moves.
