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Following
BTC 
ETH 
FET 
FIL 
NEAR 
SUI 
XLM 
XRP NEAR token prices hover below US$2, and analysts expect a short-term correction before the breakthrough.
Currently, the price of the altcoin NEAR is just below US$2. The trend has prompted analysts to predict that the market could undergo a short-term correction before the upcoming breakout. Once a breakthrough occurs, NEAR's price will surely reach a record high (ATH).
Well-known cryptocurrency analysts continue to pay close attention to the price fluctuations of potential altcoins in the market and the technical forms presented on their charts. To date, several popular altcoins have shown multiple bullish indicators on price charts, some of which even build long-term patterns that span several years.
Market sentiment is strong, key resistance level for BTC needs to be broken
Since last month, overall sentiment in the cryptocurrency market has steadily increased. At the time, both Bitcoin (BTC) and Ethereum (ETH) prices broke through several strong resistance levels, keeping market sentiment and expectations high for the coming weeks. However, despite experiencing a sharp rise, Bitcoin failed to break through two main resistance levels.
Currently, analysts believe that BTC is close to breaking through these two last resistance levels. The first resistance level is in the $79,000 range. Given that BTC is currently trading at US$80,000, the last resistance level it needs to break before confirming bull market status is in the US$82,000 to US$84,000 range. Once this level is recovered, the entire cryptocurrency market is likely to enter a fully bullish phase.
Analysts expect an explosion after a short-term correction
Among the many bullish altcoins, XRP, XLM, NEAR, FET, SUI, FIL and other assets showed strong rising signals along with ETH. Therefore, if BTC and ETH confirm that they have entered a bull market stage and continue to push up prices, altcoin prices are expected to follow suit. This rally could also bring the long-awaited peak of the "altcoin season".
As far as NEAR is concerned, bullish signals are currently being shown. According to relevant analysis, the last time NEAR prices showed a similar technical pattern, they experienced a deep correction to US$1.53. This time, NEAR's price is more likely to experience a shallow correction to US$1.73, then undergo a period of consolidation, and then break upward to the 2024 opening price. If it can stabilize above the 2024 low, it shows that the upward trend is developing healthily.
Long-term target looks high above US$30
The above analysis confirms that this is an overall bullish signal for NEAR prices and the entire cryptocurrency market. One of the analysts said NEAR's current price is just below $2, but expects the asset to hit a bullish target soon: first,$4.92, known as the "equilibrium point," followed by $9.01, known as the "checkpoint," and ultimately the main target points to $20.58. On this basis, there is a high possibility that the NEAR price will exceed US$30.
