1
The Near Protocol (NEAR) crypto rose 18.81% intraday and is currently trading at $7.07. 


2
Technical indicators imply a short-term bullish outlook as the crypto rebounded from the 20-Day EMA and surged.









The Near Protocol price extended to thrust higher after taking a pause on Sunday and jumped off nearly 18.81%. The massive intraday price surge highlights the bulls’ strength in the short term. The price is hovering near the day’s high and might show more gains by the end of the session.



The NEAR crypto is displaying a vertical rising trajectory in the recent sessions indicating a strong trend prevailing in the short term. Recently, Near Protocol witnessed a breakout above the previous swing high and a round level of $5 and surged.



At the time of writing, the crypto was trading close to $7.07 with a significant intraday rise of nearly 18.81%. It has a live market capitalization of $7.228 Billion and ranks 19th in the overall crypto market.



Moreover, the volume analysis shows that NEAR crypto has received nearly $1.08 Billion in volume in the past 24 hours with an increment of 127% as compared to the previous day. NEAR has a circulating supply of 1.043 Billion tokens against a total supply of 1.17 Billion tokens.



Near Protocol Experiences Rise In Developer Activity!






The Near Protocol highlights healthy developer activity over a weekly interval. The developer’s activity and commit count have exhibited sustained growth in the span of the last six months over NEAR crypto.



The rise in the development curve shows that NEAR crypto is undergoing major developments and updates which might have led to a positive impact over the price.



Near Protocol Indicator Analysis



The technical indicators imply a positive outlook, the NEAR token price trades above the 20, 50 and 200-Day EMAs, suggesting a positive long-term and short-term outook.



When writing, the RSI line was placed at 78.57, and the 14-Day SMA line was placed at 70.60 points. Both the lines were hovering above the mean line, highlighting a bullish sentiment in the market. Also, a bullish crossover of both the lines was observed on the charts which indicates a positive sentiment in the market. 



Near Protocol Crypto Price Prediction 2024



The price forecast for the year 2024 is that the NEAR cryptocurrency could reach a high of $12.8, suggesting a potential gain of over 83.92% if the most favorable conditions prevail. Moreover, the less optimistic outlook of the analysts hopes for the crypto to attain $9.94.



Near Protocol Price Prediction March 2024



NEAR/USD Chart by TradingView


The most bullish outlook of our analysts assumes the NEAR price could continue drawing an upward trajectory till $10 as the highest price in March 2024. On the other hand, the negative outlook of the analysts assumes the price may break below the recent support of a round level of $5 below which it may drop to $4, and the dynamic support level of the 200-Day EMA.



Disclaimer



The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Ritika Sharma With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.