Near Protocol Price Prediction as NEAR Retraces With Market Drop — Is It Time to Load Up?
The Near Protocol price has dived by 5% in the past 24 hours, sinking to $6.45 as the cryptocurrency market as a whole faces a 2% drop today.
NEAR has now fallen by 9% in a week, although it remains up by 27% in a fortnight, with the altcoin also sitting on an impressive 230% gain in the last 12 months.
Such performance has come on the back of solid growth for the Near Protocol as a blockchain network, with its platform consistently attracting new usage and partnerships in recent months.
Its expansion points to further gains for NEAR in the near and more distant future, with the coin potentially set to become one of the best-performing alts of the year.
Near Protocol Price Prediction as NEAR Retraces With Market Drop — Is It Time to Load Up?
NEAR is at a critical juncture at the moment, with its support level (green) about to be tested yet again.
If it can resist a decisive fall below $6.40, then it’s likely to begin recovering soon enough.
Source: TradingView
Its indicators certainly point towards a recovery, with its relative strength index (purple) – which measures price changes relative to recent movements – hitting a bottom this morning.
In other words, NEAR is in an oversold position, with the coin selling at a discount that could potentially entice new buyers.
At the same time, its 30-day average (orange) recently formed a ‘death cross’ with its 200-day (blue).
This can often portend additional losses, yet it also means that a given asset is close to a bottom.
And the thing with NEAR is that it’s currently one of the most promising coins in the market from a fundamental perspective.
Its total value locked in has risen by 15% this year on the back of the growing use of its network and the apps on it.
The NFT sales volume on @MITTE_gg has surpassed 1 million USD in nearly two months, with 8,900 unique buyers on @NEARProtocol.
The @doubledog_meme collection, with a volume of $700,000, has claimed 70% of the total share.
Let’s take a closer look below pic.twitter.com/KPa0Z35lpw
— Masi (@Masi_DN) April 28, 2024
For example, the MITTE NFT platform – which runs on NEAR – has now passed $1 million in trading volume in the last two months, a sign of growing usage since launching.
The NEAR Foundation also continues to announce new partnerships, with the latest being a deal with Colombian fintech LuloX, which will see the latter work with Peersyst Technology to launch a stablecoin on the Near network.
Given such growth, it’s only a matter of time before the Near Protocol price enjoys a significant recovery.
It could reach $7 in the next few weeks, before ending the summer at around $9.
Alternative Alts for Market-Beating Gains
While NEAR is one of the more promising coins in the market, it isn’t the only alt with the potential to outpace the market once we return to growth.
There are also various new presale tokens that look ready to surge once they list on exchanges, with one of the most promising being DICE, which is the native token of the online crypto casino Mega Dice.
Founded last year, Mega Dice has quickly become one of the biggest online casinos in crypto, with its website offering over 4,500 games to play, including classic casino games and also sports betting.
Mega Dice’s reputation has helped its presale raise a significant amount of money in a short space of time, with the current total standing at $600,000.
$DICE presale has raised $600k!
Only $400k left before next price increase pic.twitter.com/j2UrXVvjpM
— Mega Dice Casino (@megadice) April 30, 2024
DICE’s status as Mega Dice’s native token will give it plenty of utility, with the coin usable as a payment token for games, as well as for gaining exclusive access to special games and promotions.
Because of this, demand for DICE will grow in parallel with the growth of Mega Dice, which has been expanding steadily since launching in 2023.
Another bullish feature is the DICE comes with a max supply of 420 million tokens, making it deflationary.
On top of this, holders will be able to stake the token, meaning that a significant chunk of its supply could exit circulation.
This may drive up its price over time, leading to a coin that will reward early investors for their patience.
Don’t miss out on this opportunity to be a part of the #1 GameFi project on SOLANA! Join us and start earning with $DICE!
— Mega Dice Casino (@megadice) April 29, 2024
Newcomers can join the coin’s sale by going to the Mega Dice website and connecting their crypto wallet (e.g. Phantom, Trust, Solflare).
They can buy DICE at a price of $0.069 per token, with this price set to rise once the total reaches $1 million.
The post Near Protocol Price Prediction as NEAR Retraces With Market Drop — Is It Time to Load Up? appeared first on Cryptonews.
