Analysis of NEAR Protocol by Crypto Analyst Jamie Coutts 📈
Real Vision crypto analyst Jamie Coutts suggests that NEAR Protocol (NEAR) is showing bullish indicators. The former Bloomberg analyst predicts a potential 47% surge in NEAR’s value, based on technical analysis and key trends in the market.
Key Points Shared by Jamie Coutts:
- Absolute Price Momentum: NEAR has been consolidating since March, with a bullish technical pattern indicating a potential breakout above $7.60.
- Relative Price Momentum: NEAR’s performance against Bitcoin (NEAR/BTC) and Solana (NEAR/SOL) is positive and poised for further gains.
- Absolute Active User Momentum: NEAR has experienced significant growth in daily active users, surpassing other smart contract platforms.
- Relative Active User Momentum: The growth rate of NEAR’s active users far exceeds that of other layer-1 and layer-2 projects in the ecosystem.
The analysis points towards a promising outlook for NEAR Protocol, highlighting the potential for price appreciation and continued positive momentum across key metrics.
Chart Analysis and Predictions:
According to Jamie Coutts, NEAR is displaying an inverse head and shoulders pattern, indicating bullish sentiment and a favorable setup for further upside. The analyst’s projections suggest a target price above $10.50, representing a substantial potential gain for investors.
The overall sentiment from the analysis is optimistic, signaling a favorable outlook for NEAR Protocol in the near term.
Hot Take on NEAR Protocol’s Potential 🚀
With bullish signals and positive momentum across key indicators, NEAR Protocol appears to be well-positioned for growth in the crypto market. Jamie Coutts’ analysis underscores the potential for a significant price increase in NEAR’s value, driven by technical patterns and market dynamics.
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