NEAR Protocol (NEAR) Price Prediction: Will NEAR Price Hit $10 Soon?

• Bullish NEAR Protocol (NEAR) price prediction ranges from $4 to $7.5.
• Analysis suggests that the NEAR price might reach above $6 soon.
• The NEAR bearish market price prediction for 2024 is $1.2.

What Is NEAR Protocol (NEAR)?

NEAR Protocol is a layer-one blockchain that was designed and developed as a community-run cloud computing platform to eliminate some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput, and poor interoperability.

A platform that is conducive to both developers and end users may be established in this way, making it suitable for decentralized applications (dApps). Unlike Ethereum’s encrypted wallet addresses, NEAR account names are understandable by humans. NEAR also features an original consensus process called “Doomslug” and innovative approaches to scalability issues. 

The NEAR Collective is a community of developers, users, and enthusiasts working to improve the NEAR Protocol by fixing bugs in the core code and expanding the platform. 

NEAR Protocol was founded by Erik Trautman. Nightshade is a technology developed by NEAR that drastically increases the speed of business transactions. Nightshade is a variant of sharding that increases the blockchain’s throughput by having several groups of validators process transactions in parallel across different sharded chains.

Human-readable addresses and the ability to create decentralized applications with a registration flow comparable to what users are accustomed to are two ways in which the NEAR 

Protocol simplifies the otherwise cumbersome onboarding process of other blockchains. In addition, it offers developers modular components, which expedite the launch of projects like token contracts and NFTs.

The NEAR Foundation is a non-profit based in Switzerland that is responsible for the protocol’s governance, as well as its upkeep, ecosystem funding, and leadership. The protocol has also created an intermediary between Ethereum and NEAR, enabling the exchange of ERC-20 tokens between the two networks.

Use cases for the NEAR token include costs associated with handling financial transactions and maintaining a database, operating network validator nodes by staking NEAR tokens, and voting on a policy that controls the distribution of network resources.

NEAR Protocol (NEAR) Market Overview

NEAR Protocol (NEAR) Current Market Status

With 1,004,666,471 NEAR in circulation, NEAR Protocol trades at $3.22 at the time of writing. NEAR has a 24-hour trading volume of $172,877,706 and during the previous 24 hours, the price of NEAR decreased by 11%.

At the moment, the most popular exchanges that trade NEAR Protocol (NEAR) are Binance, Kucoin, Coinbase, Kraken, and Bitfinex.

NEAR Protocol (NEAR) Price Analysis 2024

Currently, NEAR ranks 27 on CoinMarketCap’s top list of cryptocurrencies in terms of market capitalization. Will NEAR Protocol’s most recent improvements, additions, and modifications help its price rise? Let’s focus on the charts in this article’s NEAR price forecast first.

NEAR Protocol (NEAR) Price Analysis – Moving Average Convergence and Divergence (MACD)

The Moving Average Convergence and Divergence indicators use two exponential moving averages (ema)  to find how the cryptocurrency is doing. Usually, the longer EMA is the 26-Day EMA and the shorter is the 12-Day EMA. The MACD is found by reducing the 12-day EMA from the 26-day EMA. If the MACD is positive that means the crypto is performing but if it’s negative, then it is losing value.

The above chart shows the behavior of both the 26-day and the 12-day EMA. As stated above the MACD line is in the positive region when the 12-day EMA is greater or above the 26-day EMA. The Signal line which is a 9-day EMA is set as a standard to gauge how the MACD is doing with respect to it. Currently, the MACD reads a value of 0.039 and it is below the Signal line. The MACD line could cross into the negative region if the sellers dominate the market. 

The MACD heat map has turned red and this shows that NEAR is losing value. Currently, NEAR is resting on the EMA and if more traders sell NEAR, then, there is a high chance that it could crash below this EMA.  

NEAR Protocol (NEAR) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average.

The chart above shows two red rectangles that denote the expansion and contraction of the Keltner channels. When the bands widen it means that there is going to be more volatility. In other words, the prices could drastically drop or increase. When the bands squeeze, there could be less volatility. This is because the range of fluctuation would be restricted and the prices would be constrained to move sideways. 

Additionally, when the price of a cryptocurrency continuously touches the upper or lower band and thereafter touches the opposite band, (which is, if a cryptocurrency continuously touches the upper band and finally touches the lower band, then we could determine that the bullish trend has faded.) This applies vice-versa as well. This behavior could be seen inside the green rectangle. 

The above chart shows that after a short burst of gaining value, NEAR is currently consolidating, hence the Bollinger band trend seems to have turned red. NEAR is touching the lower Bollinger there is a high chance that NEAR could gain value and rise towards the upper Bollinger band. The Bollinger band width indicator shows a value of 42.86% and the line is descending. This shows that the bands may squeeze and there could be consolidation in the market.  

NEAR Protocol (NEAR) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold, many are selling, as such, its price is undervalued. 

The above chart shows that the RSI for NEAR is 46 and the line is falling. It is probably because the market is correcting the prices. The RSI shows divergence as NEAR is making higher highs while the RSI is making lower highs. This shows that there could be a trend reversal in the future. 

NEAR Protocol (NEAR) Price Prediction 2024-2030 Overview

NEAR Protocol (NEAR) Price Prediction 2024

When looking at the above chart it could be seen that NEAR is increasing along the dotted line after touching the $1.2 support level. According to past behavior, it could be observed that NEAR hit the dotted line on and off while rising up. If this behavior continues and NEAR respects the gradient line (dotted Line), then, there is a high chance that it could test the $4.8 resistance level. With more pressure from the bulls, the price of NEAR could reach $5.9. 

In the event that NEAR does breach the gradient line, then it could be looking at landing on $2.8. Although the gradient could be breached there could still be a chance of NEAR falling back in the rails of the rising gradient. However, if NEAR falls below $2.8 then it may reach the support at $1.79 or maybe even $1.2 with more bear pressure. In this event, a retracement back into the rising gradient would be out of the cards, as the bears will be on patrol. 

NEAR Protocol (NEAR) Price Prediction – Resistance and Support Levels

The above chart shows that NEAR was rising from November 2020 until January 2022. Within 1 year and 2 months, the token rose from as low as $0.5 to $20. However, thereafter the token was met by bears who started pulling the prices down. NEAR took a head fall from Resistance 2 to Support 1. 

Currently, NEAR has gained some momentum as the token is rising. If this momentum is maintained, there is a high chance that the token could hit resistance 1. Thereafter from the previous aftermath of BTC halving, it may test the support 1 before rising to resistance 3.

NEAR Protocol (NEAR) Price Prediction 2025

NEAR  may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, NEAR will continue to rise in 2025 forming new resistance levels. It is expected that NEAR would trade beyond the $10 level.

NEAR Protocol (NEAR) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, NEAR could tumble into its support regions. During this period of price correction, NEAR could lose momentum and be way below its 2025 price. As such, it could be trading at $12 by 2026. 

NEAR Protocol (NEAR) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there’ll be a dip in price before the excitement will be reciprocated in NEAR. As such, we could expect NEAR to trade at around $16 by the end of 2027. 

NEAR Protocol (NEAR) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, NEAR  may reciprocate its past behavior during the BTC halving. Hence, NEAR would be trading at $22 after experiencing a considerable surge by the end of 2028. 

NEAR Protocol (NEAR) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, NEAR could be trading at $30 by the end of 2029.

NEAR Protocol (NEAR) Price Prediction 2030

After witnessing a bullish run in the market, NEAR and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, NEAR could be trading at $34.

NEAR Protocol (NEAR) Price Prediction 2040

The long-term forecast for NEAR  indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. 

If they start selling then NEAR  could fall in value. It is expected that the average price of NEAR could reach $45 by 2040.

NEAR Protocol (NEAR) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such NEAR could reach $75. 

Conclusion

If investors continue showing their interest in NEAR and add these tokens to their portfolio, it could continue to rise. NEAR’s bullish price prediction shows that it could reach the $6 level. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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