Near Protocol price prediction: cup and handle pattern forms

Near Protocol price prediction: cup and handle pattern forms
фото показано с : coinjournal.net

2022-4-12 14:23

The Near Protocol price has been in a tight range in the past few days even as other cryptocurrency prices retreat. The coin is trading at $16.6, which is a few points below last week’s high of $20. Its market cap has risen to about $10 billion, making it the 17th biggest coin in the world.

Near plans to disrupt music industry

The Near Protocol price jumped sharply last week after the developers raised $350 million from a group of investors. The developers will use these funds to grow the ecosystem by providing grants to creators. They will also use the funds to expand their development team.

Therefore, the Near price jumped sharply as investors cheered this funding. Also, investors have been optimistic about the growth of its ecosystem. For example, the total value locked (TVL) of the network has risen to almost $1 billion. This growth is mostly because of the numerous projects built using Aurora’s technology.

Meanwhile, the developers announced plans to use the blockchain technology to disrupt the music streaming industry. They also unveiled a new decentralized autonomous organization (DAO) known as MODA DAO. The goal is to ensure that the musicians make money when people listen to their songs. It will also help them monetize their creations using tools like NFTs.

Near Protocol also talked about Naer x Music (NxM), which is a community focused on music, events, NFTs, and music-forward tools. The statement added:

“Music specifically tends to involve multiple participants to make a release come together. But by using smart contracts, especially with the tools built into Mintbase, artists are able to write splits into their contracts for both initial and secondary market sales.”

Near Protocol price prediction

Turning to the daily chart, we see that the Near Protocol price has been in a strong bullish trend. A closer look reveals that it has formed a cup and handle pattern. In price action analysis, this price is usually a sign of a bullish continuation. It is also slightly below the upper side of the cup pattern.

The price has also moved above the 25-day and 50-day moving averages. Therefore, the coin will likely keep rising as bulls target the key resistance at $20.

The post Near Protocol price prediction: cup and handle pattern forms appeared first on Coin Journal.

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NEAR Protocol (NEAR) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $1.3511
Капитализация $0 Rank 99999
Цена в час новости $ 16.64 (-100%)

near price protocol pattern forms prediction handle

Источник: coinjournal.net

near price → Результатов: 126


Here’s Why AI Crypto Near Protocol (NEAR) Price Is Up This Week

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2024-4-25 00:20


Ether Price Analysis: Historic Support Tested Amid Signs of Distribution

It’s been weeks since ether has seen a new high or a new low and the market has found itself range-bound. At the moment, we are seeing signs of distribution as large rounds of selling have remained present during key support tests:Figure 1: ETHUSD, 4 Hour Candles, Trading RangeSo far, for the last few weeks, ether has seen a trend of higher lows and low highs (the converging red trendlines).

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