The NEAR price has had a spectacular week. The coin jumped to a high of $14.50, which was the highest level since December 15th. It has risen by more than 74$ from the lowest level this week. As a result, its total market capitalization has jumped to more than $8.5 billion, making it the 24th biggest coin in the world.
The NEAR protocol is a relatively popular blockchain platform that has grown to become one of the top Ethereum Killers in the world. The protocol uses the nightshade sharding technology that divides blocks into smaller parts known as shards.
The result is a protocol that is relatively faster than Ethereum and other platforms. It can handle more than 10,000 transactions per second (tps). The NEAR price has jumped sharply recently because of the integration of Terra’s UST token in its network.
NEAR Price prediction
The four-hour chart shows that the NEAR Protocol price has been in a strong bullish trend in the past few days. In so doing, the coin managed to move above the key resistance level at $11.83, which was the highest level on December 12. It also jumped above the 25-day and 50-day moving average while the RSI has also been rising.
Therefore, in my view, I suspect that the NAR price will continue with its bullish trend in the near term. If this happens, the next key resistance level to watch will be at about $17.50. However, a drop below the key support level at $12.50 will invalidate this view.