NEAR Protocol Price Prediction 2021 – Will NEAR Hit $12 Soon?

NEAR Protocol Price Prediction 2021 - Will NEAR Hit $12 Soon?
  • Bullish NEAR price prediction ranges from $8.12 to $11.91.
  • NEAR price might also reach $12 soon.
  • NEAR bearish market price prediction for 2021 is $4.58.

In NEAR Protocol (NEAR) price prediction 2021, we use statistics, price analysis, ADX, and many other information about NEAR to analyze the future trend of cryptocurrency.

The NEAR protocol is a decentralized application platform designed for the use of Internet applications. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which is designed to provide scalability and stable rates. Its native token is NEAR.

According to CoinGecko, the NEAR price is trading at $7.95 with a 24-hour trading volume of $131,789,342, at the time of writing. However, NEAR has decreased by 4.1% in the last 24 hours.

In addition, NEAR has a circulating supply of 477,014,685 NEAR. Currently, NEAR trades in cryptocurrency exchanges such as Binance, OKEx, CoinTiger, Huobi Global, and FTX.

NEAR Protocol (NEAR) Price Prediction 2021

NEAR holds the 49th position on CoinGecko right now. NEAR price prediction 2021 explained below with a daily time frame.

NEAR/USDT Price Chart Daily Time Frame (Source: TradingView)

A descending triangle is a bearish chart pattern that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. It is a sign for traders in a short position to accelerate a breakdown. Among the traders descending triangle is a very popular chart pattern because it clearly shows the demand for an asset.

In the daily time frame chart,  if the price of the NEAR breaks the resistance level of $8.69, it will reach the target of $10.48 and $11.91. Or else, the price of the NEAR breakout will fall to the support level at $6.34. So, the trend of the NEAR is based on the breakout.

NEAR Support and Resistance Level

The below chart shows the support and resistance level of NEAR.

NEAR/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support level of NEAR.

  • Resistance Level 1 – $8.12
  • Resistance Level 2 – $10.41
  • Support Level 1 – $6.3
  • Support Level 2 – $5.46
  • Support Level 3 – $4.58

The charts show that NEAR has performed a bullish trend over the past month. If this trend continues, NEAR might run along with the bulls overtaking its resistance level at $10.41.

Conversely, if the investors turn against the crypto, the price of NEAR might plummet to almost $4.58, a bearish signal.

NEAR Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of NEAR. It is used to measure the overall strength of the trend and it is related to the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. Moreover, a high price indicates a strong trend, and a low price shows a weak trend. It is often combined with directional indicators. 

NEAR/USDT ADX(Source: TradingView)

The above chart shows the ADX of NEAR stays above the range of 18.184, so it indicates a weak trend.

Conclusion

NEAR is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term NEAR price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $11.84 this year. However, this only happens when NEAR breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the NEAR ecosystem, it could experience a great future ahead in 2021. It may reach $10.48 soon and it might even reach high heights, however reaching $12, if investors have planned that NEAR is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.