NEAR Shows Market Strength Even in Fear Conditions — L1 Rotation Still Active
A notable shift is happening in the crypto market. Despite prevailing fear, some assets display remarkable resilience. One standout is NEAR, which continues to show robust performance. This intriguing dynamic suggests that the pattern of Layer 1 asset rotation remains in play, hinting at potential growth for savvy investors. Which coins are primed to surge next?
NEAR Protocol Eyes Growth as Price Surges Amidst Bullish Momentum
Source: tradingview
The price of NEAR Protocol is currently fluctuating between just above $2 to around $2.40. It has increased by roughly 44% in the past week, showing strong upward momentum. If it breaks past its nearest resistance of $2.60, it could aim for the next level at close to $3. If it manages to hit this target, it would represent a potential gain of about a quarter from its lower range. However, the Simple Moving Averages show a mixed picture, creating uncertainty in the longer term. Nonetheless, the high RSI suggests bullish pressure, giving it a chance for further growth if the momentum sustains.
Conclusion
The strength of NEAR is evident even when the market is fearful. Other Layer 1 solutions like Solana, Avalanche, and Terra also continue to show strong performance. This ongoing activity highlights interest in Layer 1 tokens. These assets are gaining attention due to their potential and the different features they offer. The resilience of these tokens could indicate their appeal and viability for long-term growth.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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