NEAR Surges to Its Highest Price Since April – Eyes Set on 3 Dollars

Crypto News- The weekly analysis reveals a significant uptrend for NEAR since October, marked by a breakout from a 440-day descending resistance trend line. The altcoin has shown remarkable strength, encountering only one bearish weekly candlestick during this surge. Additionally, the Relative Strength Index (RSI) indicates a bullish momentum, surpassing 50 and forming a bullish divergence before the breakout.

NEAR Surges to Its Highest Price Since April – Eyes Set on 3 Dollars

Anticipating the next move, the daily chart supports a bullish outlook. Despite an initial rejection, NEAR broke through the 0.618 Fib retracement resistance level on December 4, signaling a non-corrective upward movement. The daily RSI is bullish, having broken free from its bearish divergence trend line and maintaining levels above 50.

Prominent cryptocurrency analysts, such as ZaykCharts and Osbrah, share an optimistic sentiment, predicting a substantial bullish wave for NEAR. ZaykCharts notes a completed descending channel breakout, expecting a massive bullish surge. Osbrah, aligning with this viewpoint on a shorter-term chart, foresees a potential 15% increase in price, reaching the $2.70 horizontal resistance.

However, the bullish outlook is contingent on the continuation of upward momentum. A dip below the 0.618 Fib level at $2.13 would signal a completion of the upward movement, potentially leading to a 25% retracement to $1.80, according to the analysis.