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- 1 NEAR price prediction is bullish for the long term till it holds $1.00 support.
- 2 NEAR Protocol price is stuck in the narrow range of consolidation.
- 3 NEAR crypto price is trading closer to its long-term demand zone./a>
NEAR price prediction is bullish for October 2023 and suggests bulls will soon return back on track. The correction seems to have halted near $1.00 and buyers are trying their best to rebound.
NEAR Protocol price attempting to break out of the 50-day EMA to reverse the short-term trend. If buyers succeed, then a sharp rise toward $1.300 is possible. However, if the price faces rejection, then it is likely to spend time in an existing consolidation range.
Recently, NEAR Protocol broke down its yearly low of $1.150 which triggered negative sentiment. However, the price did not collapse much and got stuck in a range.
It shows that buyers are active near the yearly low and will be difficult for sellers to pull the prices further down. NEAR crypto has now consolidated for quite a long time. So might have formed a short-term base. Therefore, the investors may look to buy at current levels.
NEAR Protocol price is trading at $1.088 with an intraday rise of 1.40%. The 24-hour volume to market cap is 3.89%.
Will NEAR Price Expand the Range Upward in October?
NEAR price prediction suggests buyers are preparing for the breakout and upward range expansion may be visible in October. Meanwhile, if the BTC and ETH prices show a sharp rise, then it might fuel the positive momentum in Near Protocol as well.
Till NEAR crypto holds $1.00, it will be risky to create fresh shorts. Therefore, it is better to look for bUy or accumulate for the target of $1.500 to $1.600. The technical analysis suggests consolidation will end soon and the price will expand upward.
NEAR Protocol Price Look Bearish on a Weekly Time Frame
NEAR Protocol price is bearish on a weekly time frame. However, due to the presence of buyers at lower levels, the price might show a bounce back in the coming weeks. However, at present, the price is continuing the consolidation.
The MACD curve reversing upward and might reach the zero line indicates mild bullishness.
The RSI at 43 slopes upward denoting bulls are getting active and RSI might reach the neutral territory. The supertrend shows that the short-term trend is down and buyers need to break $1.197 to reverse the trend.
Conclusion
NEAR price prediction is bullish for October 2023. The price had consolidated for quite a long time in a narrow range and formed a strong base. So, sellers may face difficulty in pulling the price further down.
The analysis suggests NEAR Protocol is in the demand zone and an upward range is possible in October.
Technical Levels
- Resistance Levels: $1.301 and $1.400
- Support Levels: $1.109 and $0.950
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
