Near Protocol Hits $7, Technical Sentiments Hint A $10 Retest?

Story Highlights

• Near Protocol price reclaims the $6 mark, with a weekly surge of ~18%.
• Technical indicators record a sustained bullish price action this week.
• The NEAR price trades at a discount of 24.13% from its yearly high.

With the recent price surge, the Near Protocol price has reclaimed the 20th position in the crypto market by surpassing the UNUS SED LEO (LEO) token, which is currently valued at $7.82 billion.

Amid the ongoing bullish recovery in the crypto space, will Near Protocol lead the AI rally this year? Let us understand the short-term possibilities of the largest Artificial Intelligence (AI) token by market cap.

NEAR Price Retests June High!

Despite NEAR price breaking its inflow streak of 4 consecutive days with an intraday drop of ~1.5%, it has maintained its value above the $6.5 mark. This highlights a strong bullish price sentiment for the altcoin in the crypto space.

TradingView: NEAR/USDT

Moreover, the altcoin has recorded 14/25 green days this month. During this period, it has added 93.64% to its valuation and has successfully recorded a 6-month high. With a market cap of $8.23 billion, it has secured the 20th position.

Near Protocol Technical Sentiments

The Simple Moving Average (SMA) constantly supports the Near Protocol price chart in the 1D time frame, indicating a bullish outlook for this Artificial Intelligence (AI) token in the market.

Further, the Relative Strength Index (RSI) has breached the overbought range in the daily time frame, with its average trendline hovering close to it. This suggests that the altcoin may continue gaining value this week.

Is NEAR Price Worth Buying?

Suppose the bullish sentiment intensifies, this could result in the Near Protocol token retesting its resistance level of $7.685. Moreover, if the bulls continue gaining momentum at that point, the NEAR coin price could prepare to test its upper resistance level of $9.

However, a bearish pullback could result in this altcoin plunging toward its support of $6.225. Furthermore, if the bulls fail to regain momentum at that point, the NEAR token could retest its lower support level of $5 this year.

To find out if the NEAR token will achieve a new ATH, Read CoinPedia’s Near Protocol Price Prediction and also subscribe to explore the latest cryptocurrency insights!

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