• Near Protocol (NEAR) has jumped up +8% this week, amidst a potential rebound in its price.
• The project is continuing to push its development boundaries with Java-based smart contract programming.
• Launchpad XYZ provides exclusive AI-integrations that could boost trading alpha.
Near Protocol Booms Up 8% Amid Rebound
Layer-1 blockchain project Near Protocol (NEAR) has jumped up +8% so far this week, amid an emerging bounce that could see NEAR reclaim position atop the 20DMA. This comes following almost four-months of bleak downside price action for NEAR, which has bled-out half its value (-50%) since April 19.
Building Despite Price Decline
But while price has been sliding, NEAR protocol has been building, with the project continuing to push frontiers with Java-based smart contract programming . Recently, leading DeFi aggregator DeFiance ranked NEAR as the #4 most secured network. And in testament to the continual push to build, despite the price decline in NEAR since 2022, the developer and contributor community has continued to hold strong.
Is it too late to buy?
Amid the mounting recovery, NEAR remains low in the narrowing trading channel, with NEAR trading at a market price of $1.18 (a 24-hour change of +0.68%). TradingView / NEAR USDT This comes after price fell-away from the descendant 20DMA on August 15, in a tumultuous -25% tumble. Now pushing back up, the 20DMA forms a key target for NEAR at $1.30 however; it is notable that the 20DMA is situated immediately above a historic support level at $1.25. Given the tough area of resistance around the 20DMA since July 24th it seems likely $1.25 will form a foothold for NEAR to test resistance in the event of an upside move. Indeed, Near Protocol’s indicators support this view with both RSI and MACD showing signs of bullish divergence and only minor bearish divergence respectively..
Catch Next Big Pump
Overall ,NEAR is facing a tight range on short time frames with an upside target at $1.31 (a possible +11.6% move), and downside risk limited to recently established price level at $1$ 1,.10 (a potential -622% move). This leaves Near Protocol with a risk: reward ratio of 1:88–a solid entry point with upside potential–and certainly not an overly late entry . If you want catch next big pump before prices start moving then look no further than Launchpad XYZ ,an exclusive trading analytics app which boasts AI integrations that could supercharge your alpha .
In conclusion ,Near Protocol offers investors both high potential rewards and low risks making it an attractive option for traders looking for exposure before prices start rising again . With exclusive AI tools available from Launchpad XYZ ,investors can leverage insights and increase their chances of success significantly