Is a $10 Rally Imminent for NEAR Protocol? Key Indicators Suggest Bullish Momentum

NEAR Protocol shows strong bullish signals, including a golden crossover and a key trendline retest, suggesting potential for a rally toward $10. Investor confidence grows as Grayscale and technical indicators support the uptrend.

NEAR Protocol Bullish Momentum: A Rally Toward $10?

The NEAR Protocol (NEAR) has been making headlines for its recent price action, marked by significant bullish developments on its chart. As the NEAR/USDT pair broke through and retested a major trendline, traders and analysts alike are eyeing the possibility of a rally to $10.

Key Bullish Indicators for NEAR

1. Support-Turned-Resistance Flip:
   On the daily chart, NEAR flipped the $5.10 level from resistance to support after a strong upward move. This level now serves as a critical foundation for future price action.
2. Golden Crossover:
   Yesterday, NEAR experienced a golden crossover, where the 13-day EMA crossed above a longer-term moving average. This bullish signal is often associated with substantial price increases, reinforcing optimism among traders.
3. Rising Momentum:
   The Relative Strength Index (RSI) bottomed out and is now trending upwards, signaling increased buyer interest. Coupled with consistent rebounds off key moving averages, this indicates a healthy uptrend.
4. Volume Surge:
   A notable increase in trading volume aligns with NEAR’s upward trajectory, further supporting bullish sentiment.

Technical Outlook: Targets Beyond $10

Analysts highlight NEAR’s consistent performance within a rising channel since early 2023. If the current trajectory continues, NEAR could test the $10 mark in the near term, with potential to reach $16 in the coming months.

The channel’s upper boundary will be a key level to watch, as a breakout could pave the way for even greater gains.

Grayscale Signals Confidence in NEAR

Grayscale’s Decentralized AI Fund has allocated a substantial 31.2% of its portfolio to NEAR, demonstrating strong confidence in the protocol’s role within the blockchain-AI space.

Other notable allocations in the fund include:

• Bittensor (TAO): 24.55%
• Filecoin (FIL): 17.18%
• Render (RNDR): 16%
• The Graph (GRT): 11.07%

This diversified strategy highlights Grayscale’s bullish stance on blockchain technologies enabling AI capabilities, further bolstering investor confidence in NEAR.

Outlook for NEAR Protocol

With technical indicators, strong fundamentals, and institutional backing aligning in its favor, NEAR Protocol is well-positioned for significant growth. Market watchers will be closely monitoring the $10 level as a potential breakout point in the near term.

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