Near Price Prediction: NEAR Soaring In an Interesting Channel!

• Near price prediction suggests the token’s recovery inside the rising parallel channel over the daily time frame chart.
• NEAR crypto has recovered above 20, 50 and 100-days Daily Moving Average.
• The pair of NEAR/BTC was at 0.00007708 BTC with an intraday gain of 1.32%.

Near Protocol is a blockchain-based platform that aims to provide a fast, scalable, and developer-friendly environment for decentralized applications (dApps) and smart contracts. It uses a proof-of-stake consensus mechanism and a sharded architecture to achieve high transaction throughput and low latency.

One of the key features of Near Protocol is its ability to support multiple virtual machines (VMs) and programming languages, including Rust, AssemblyScript, and Solidity. This allows developers to build dApps and smart contracts using their preferred language and tooling, without needing to learn a new programming language or use a specific VM.

Another notable feature of Near Protocol is its “Nightshade” sharding architecture, which enables the network to handle up to 100,000 transactions per second. This is achieved by dividing the network into shards, which are separate sub-networks that can process transactions in parallel.

Near Protocol also includes a built-in wallet and a user-friendly interface for interacting with dApps and smart contracts. Additionally, it provides a suite of developer tools, such as the Near SDK, to make it easier for developers to build, test, and deploy their applications on the platform.

Near Protocol aims to make blockchain technology more accessible and scalable for developers and users alike, while maintaining a high level of security and decentralization.

NEAR Price Nearing 200-days DMA!

Source: NEAR/USD by TradingView

Near price prediction suggests the recovery of NEAR crypto inside the rising parallel channel over the daily time frame chart. Near price was at $2.35 and has gained 1.40% of its market capitalization during the day’s trading session. However, trading volume has decreased by 48% during the intraday trading session. This demonstrates that sellers are trying to accumulate to pull NEAR prices.

Technical indicators suggest the recovery of NEAR price inside an ascending parallel channel over the daily time frame chart. Relative strength index showcases the uptrend momentum of NEAR token. RSI was at 66 and is heading towards the overbought territory.

MACD exhibits the upward momentum of NEAR crypto price. The MACD line is ahead of the signal line after a positive crossover. Investors in NEAR cryptocurrency need to wait until the NEAR price reaches the upper trendline of the rising parallel channel.

Summary

Near Protocol is a blockchain-based platform that aims to provide a fast, scalable, and developer-friendly environment for decentralized applications (dApps) and smart contracts. Another notable feature of Near Protocol is its “Nightshade” sharding architecture, which enables the network to handle up to 100,000 transactions per second. However, trading volume has decreased by 48% during the intraday trading session. Technical indicators suggest the recovery of NEAR price inside an ascending parallel channel over the daily time frame chart.

Technical Levels

Support Levels: $2.20 and $2.15

Resistance Levels: $2.40 and $2.55

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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