The NEAR protocol has seen a dramatic surge of over 50% in the past week as bullish divergence signals potential for sustained growth. This positive trend is attributed to expanding DeFi applications and increased institutional interest, according to analysts. Trading activity also indicates renewed momentum, with the price hovering near key resistance levels.
The upward movement on NEAR/BTC points towards a potential reversal, with key resistance situated around 0.0000384 BTC. This level coincides with the point where previous divergence began, suggesting a possible breakout in the coming days. Further momentum might drive the price toward 0.00006089 BTC.
Near-term technical indicators like MACD and RSI (currently at 61.23) also show early signs of strengthening trends.
The NEAR protocol has faced a prolonged decline in value against Bitcoin from late 2024, but recent recovery patterns suggest renewed strength. A rounded bottom pattern on the three-day timeframe, suggests a potential trend reversal, while trading volume remains consistent at around $2.77, reflecting active participation.
The near future looks promising for NEAR as positive momentum continues, with analysts anticipating sustained growth and further gains in the coming weeks.