Near Protocol Price Prediction: A Trade Above $5 Incoming

Summary:
• In September, the Near Protocol price is looking poised to continue with the bullish trend that has persisted for the past two months.

In September, the Near Protocol price is looking poised to continue with the bullish trend that has persisted for the past two months. The crypto is already up by 2 per cent for the month, after starting with low momentum and in a horizontal market.

Throughout the past two months, the Near Procol has also been among the best-performing cryptocurrencies in the market. Despite the cryptocurrency industry having been in an aggressive bearish trend during that period, which has seen its market capitalization dropping below $1 trillion, the Near Protocol has traded against the industry’s bearish trend. 

Part of the reason we have continued to see the growth of near protocol is its continued traction among cryptocurrency users. For instance, looking at its trading volume from just before the current strong bullish push to the upside that has persisted for over two months, we can see it consistently growing over time.

On June 30th, the Near Protocol average total trading volume was around $230 million. However, looking at the same data today, the average trading volume per day stands at around $340 million, a significant increase that not only highlights its surge in usage, but also how often it is being used for transactions.

The Near Protocol Price Prediction

In yesterday’s trading session, we saw Near protocol price surging by 7 per cent, and wiping out losses made in the previous six trading sessions. The strong push to the upside looks poised to continue into today, with prices already up by 2 per cent. 

Looking at the chart below, we can also see the Near Protocol price has been in an aggressive bullish trend for months. However, since August 20th, the crypto has struggled in the markets, with most of the time trading in a horizontal market.

Despite this, I expect the current bullish trend to continue in the next few trading session. My Near Protocol price prediction expect it to hit and trade above the $5.2 resistance level. There is a high likelihood that it might even break the August price high of $6.1 within the next few weeks. My analysis will be invalidated should prices trade below $3.7.

Near Protocol Daily Chart