Near Protocol Price Prediction: NEAR Retraces With Market Drop — Is It Time to Load Up?
The price of Near Protocol has experienced a 5% decline in the past 24 hours, dropping to $6.45 as the overall cryptocurrency market faces a 2% decrease today.
Over the course of a week, NEAR has fallen by 9%; however, it has seen a 27% increase in the past two weeks and an impressive 230% gain over the last 12 months.
The strong performance of Near Protocol as a blockchain network has contributed to its growth, with the platform consistently attracting new users and partnerships in recent months. This expansion suggests that NEAR has the potential to become one of the top-performing altcoins of the year.
NEAR is currently at a critical point, with its support level (green) about to be tested once again. If it can avoid falling decisively below $6.40, it is likely to initiate a recovery soon.
Indicators indicate a potential recovery, as the relative strength index (purple), which measures price changes relative to recent movements, hit a bottom this morning. This oversold position could entice new buyers.
Additionally, the 30-day average (orange) recently formed a ‘death cross’ with the 200-day (blue). While this often indicates further losses, it also suggests that NEAR is nearing a bottom.
From a fundamental perspective, NEAR is one of the most promising coins in the market. Its total value locked in has increased by 15% this year due to the growing usage of its network and associated apps. For example, the MITTE NFT platform, which runs on NEAR, has exceeded $1 million in trading volume in the last two months, indicating growing usage since its launch.
The NEAR Foundation continues to announce new partnerships, with the latest being a deal with Colombian fintech LuloX. This collaboration will see the launch of a stablecoin on the Near network in collaboration with Peersyst Technology.
With this growth trajectory, it is only a matter of time before the Near Protocol price experiences a significant recovery. It could potentially reach $7 in the next few weeks and end the summer around $9.
Alternative altcoins also have the potential to outperform the market once it begins to grow again. One such altcoin is DICE, the native token of the online crypto casino Mega Dice. Mega Dice has quickly become one of the largest online casinos in the crypto space, offering over 4,500 games, including classic casino games and sports betting.
The presale of DICE has raised a significant amount of money, currently standing at $600,000. As Mega Dice’s native token, DICE offers utility as a payment token for games and exclusive access to special games and promotions. Demand for DICE will grow alongside the expansion of Mega Dice, which has seen steady growth since its launch in 2023.
DICE has a maximum supply of 420 million tokens, making it deflationary. Additionally, token holders can stake DICE, potentially reducing its circulating supply. These factors may contribute to an increase in its price over time, rewarding early investors.
Those interested in purchasing DICE can participate in the coin’s sale by visiting the Mega Dice website and connecting their crypto wallet (e.g., Phantom, Trust, Solflare). The current price is $0.069 per token, with the price set to rise once the total reaches $1 million.
It’s important to note that investing in cryptocurrency carries high risk. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all invested capital.
